Duke proposes more than $5 in monthly fuel savings for residential customers

GREENVILLE, S.C. – South Carolina customers of Duke Energy Carolinas will receive more than $5 in monthly savings starting this fall if the Public Service Comm. of S.C. approves the company’s proposed new fuel rates.

The new fuel rates, which would go into effect Oct. 1, would be the lowest since 2006.

Under the proposal, typical residential customers using 1,000 kilowatt-hours per month would see their bills decline from the current $116.57 to $110.92, a savings of $5.65.

General service customers would see an average decrease in the fuel charge of about 6.4 percent, and industrial customers would receive an average decrease of about 10.5 percent.

In a media release, Duke officials said the main reasons for the proposed overall decrease in rates include lower projected coal/natural gas fuel prices and a $75 million decrease in the prior period true-up of fuel costs.

The company makes a fuel cost recovery filing annually in South Carolina. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year’s projection. The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly. By law, the company makes no profit from the fuel component of rates.

Duke Energy Carolinas offers its customers electric rates in South Carolina that are consistently below the national average, according to the release. Duke Energy Carolinas also offers energy-saving tips and innovative efficiency programs to help customers realize additional savings.

One such program is the Home Energy House Call – a free in-home energy assessment designed to help Duke Energy customers learn how they can use electricity more efficiently to reduce their monthly bill. To learn more about these programs, visit www.duke-energy.com/savings.

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