State Regulators Approve Duke Energy Rate Increase -

State Regulators Approve Duke Energy Rate Increase

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South Carolina regulators have agreed to a rate increase request from Duke Energy.

The Public Service Commission approved the compromised 10-percent rate increase for homeowners and renters at Wednesday's meeting, according to Dukes Scott, Executive Director of the Office of Regulatory Staff. The rate hike for a monthly residential power bill of 1,000 kilowatt-hours will rise $7.52 to $107.97 during the first year and $2.79 the next year for a total of $110.76.

Commercial customers, including retailers, will see their power bills rise an average of 6.42-percent over the next two years as a result. Other commercial customers, such as factories and manufacturers, will see a 7.34-percent rise during the same time span.

The first rate hike will take effect on September 18 for Duke Energy customers in South Carolina. The second rate increase will take place one year later. The increase will be Duke Energy's third since 2010 and affect over 540,000 customers throughout the state.

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