Electric Rates Could Go Up 10% Over Two Years - WSPA.com

Electric Rates Could Go Up 10% Over Two Years

Posted: Updated:
Duke Energy wants to raise rates in SC. Duke Energy wants to raise rates in SC.
GREENVILLE COUNTY, S.C. -

On Tuesday the Office of Regulatory Staff filed with the Public Service Commission a settlement agreement  in the Duke rate case which, if adopted by the Public Service Commission, would reduce the rate increase from that sought by the company.  The proposed overall reduction to Dukes’ request is $101,442,000 or 46.10% decrease.

Duke’s application would increase revenues by $220,064,000 or 15.13%.  The settlement would increase revenues in the first year by $80,391,000 or 5.53% and in the second year and beyond by an additional $38,231,000 or 2.63%.

Duke’s original request would have resulted in a monthly residential bill for 1000 killowatt hours of $118.28, an increase of $17.83 or 17.75%.

Under the settlement the monthly residential bill in the first year would be $107.97 or an increase of $7.52 or 7.49%, and the second year would be $110.76 or an increase of $2.79 or 2.58%.

The settlement revenue increase is based on a 10.2% return on common equity.  Duke had sought a return of 11.25%.

The settlement was filed signed by ORS, Duke, South Carolina Small Business Chamber of Commerce, The South Carolina Energy Users Committee and Wal-Mart Stores, East, LP and Sam’s East, Inc.

The Settlement is subject to the approval of the Public Service Commission.

  • Top StoriesTop StoriesMore>>

  • Williamston Police: Man Arrested After Tuesday Shooting

    Williamston Police: Man Arrested After Tuesday Shooting

    Wednesday, April 23 2014 11:32 PM EDT2014-04-24 03:32:34 GMT
    Williamston police officers are investigating a shooting after a woman was shot in the head on South Hamilton Street.Williamston police officers are investigating a shooting after a woman was shot in the head on South Hamilton Street.
    An accused shooter is being held at the Anderson County Detention Center after authorities say he shot a woman in the head on South Hamilton Street Tuesday night.
    An accused shooter is being held at the Anderson County Detention Center after authorities say he shot a woman in the head on South Hamilton Street Tuesday night.
  • 2014 NFL Schedule Released

    2014 NFL Schedule Released

    Wednesday, April 23 2014 11:17 PM EDT2014-04-24 03:17:46 GMT
    Seahawks To Open NFL Season vs. PackersSeahawks To Open NFL Season vs. Packers
    As Super Bowl champions, the Seattle Seahawks get to kick off the NFL's regular season by hosting the Green Bay Packers on Sept. 4.
    As Super Bowl champions, the Seattle Seahawks get to kick off the NFL's regular season by hosting the Green Bay Packers on Sept. 4.
  • Man Killed In Wreck On Tubbs Mountain Rd

    Man Killed In Wreck On Tubbs Mountain Rd

    Wednesday, April 23 2014 11:13 PM EDT2014-04-24 03:13:52 GMT
    A Greenville County man is dead after being involved in a wreck on Tubbs Mountain Road in Travelers Rest.A Greenville County man is dead after being involved in a wreck on Tubbs Mountain Road in Travelers Rest.
    A Greenville County man is dead after being involved in a wreck on Tubbs Mountain Road in Travelers Rest. It happened Wednesday just after 5 p.m. according to Greenville County Coroner B. Parks Evans, Jr. The coroner says Mr. Donald Ray Brown was the driver of a vehicle that was struck on the river's side by another vehicle.
    A Greenville County man is dead after being involved in a wreck on Tubbs Mountain Road in Travelers Rest. It happened Wednesday just after 5 p.m. according to Greenville County Coroner B. Parks Evans, Jr. The coroner says Mr. Donald Ray Brown was the driver of a vehicle that was struck on the river's side by another vehicle.
Powered by WorldNow

250 International Dr.
Spartanburg, S.C. 29303

Telephone: 864.576.7777
Fax: 864.587.5430
Email: webmaster@wspa.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.