Proposal to lower the Duke Energy retail bill
Duke Energy Carolinas proposes a decrease in monthly fuel costs for South Carolina customers starting this fall, as part of an annual adjustment to the actual cost of fuel used to generate electricity at the power plants. If approved, the monthly bill of a typical residential customer would drop by $6.81. Commercial customers would see an average decrease of about 9.8%. The new rates would go into effect October 1. Duke makes a fuel cost recovery filing annually with the South Carolina Public Service Commission. The fuel rate is based on a projected cost of fuel to provide electric service to the customers, along with what’s called a true-up of the prior year’s projection. By law, Duke makes no profit from the fuel component of rates.