Beginning in January, Duke Energy will adjust customer bills in South Carolina to reflect recovery costs from Hurricane Helene, as well as investments made to strengthen the electrical grid and upgrade power plants. The changes follow approval by the Public Service Commission of South Carolina (PSCSC) for both Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP), the company’s two utilities serving the state.
Duke Energy has used securitization—selling low-interest, long-term bonds—to help manage the significant expenses resulting from Hurricane Helene. This approach is expected to save DEC customers more than $140 million compared to traditional cost recovery methods. As a result, a typical residential DEC customer using 1,000 kilowatt-hours per month will see a new storm charge that increases their bill by 3.2%, or $4.58 per month.
“Duke Energy is committed to meeting the expectations our customers have around reliability, responsiveness and value – striking the right balance that delivers these at the lowest possible cost for customers,” said Tim Pearson, Duke Energy’s South Carolina president. “That means investing in what matters, delivering results efficiently, and remaining transparent about what customers are paying for and why.”
Pearson also noted appreciation for legislative support: “We appreciate the legislature providing tools like securitization to address extreme storm costs as we continue to pursue ways to reduce these impacts on customer bills.”
Investments aimed at improving reliability include upgrades such as self-healing technology across South Carolina’s grid infrastructure. Over 70% of Duke Energy’s South Carolina customers now benefit from this automated restoration system after outages.
“Meeting the needs of our customers means prioritizing investments that enhance the grid while also minimizing the cost impact for customers,” Pearson said. “For example, Duke Energy’s nuclear units are expected to generate hundreds of millions of dollars of annual tax credits in the coming years – savings that will be passed to our customers beginning in 2026.”
The PSCSC recently approved agreements with various stakeholders that will allow these tax credits and shareholder-funded contributions to help offset bill increases related to recent infrastructure investments over the next two years.
Starting February 1, DEP residential customers using 1,000 kWh per month will see their monthly electric bills rise by about $11.20—from $153.82 up to $165.02. For DEC residential customers using similar amounts starting March 1, monthly bills will increase by about $0.84—from $148.02 up to $148.86 (including the new securitization charge).
DEC serves approximately 680,000 households and businesses mainly in Upstate and north central South Carolina; DEP serves about 177,000 customers in northeastern regions such as Sumter and Florence counties.
If regulatory approval is granted in 2026 for a proposed combination of DEC and DEP operations within South Carolina, company estimates suggest it could save Carolinas’ ratepayers more than $1 billion over future years.
Pearson emphasized efforts beyond managing company costs: “Customers expect us to manage our costs, but they also want options to manage their own energy usage and give them tools to impact their own bills,” he said. “That’s why we’re helping customers lower their energy use – and lower their bills – through programs that make a measurable difference.”
Duke Energy reports its energy efficiency programs across North and South Carolina deliver annual savings significantly above national averages; incentive levels have recently been increased for many such programs within South Carolina.
Further information on ways for residents to reduce energy use can be found at duke-energy.com/SeasonalSavings.
Duke Energy Carolinas operates with an energy capacity of 20,800 megawatts across North Carolina and South Carolina; Duke Energy Progress has an energy capacity of 13,800 megawatts across both states as well.
Duke Energy is headquartered in Charlotte and provides electric service throughout six states with natural gas service available in five states.
