Duke Energy announces changes to bills to help with Hurricane Helene recovery

GREENVILLE, S.C. (FOX Carolina) — Duke Energy announced changes to customers’ bills following the historic damage from Hurricane Helene.

A release from the company states the changes will:

• Reflect the investments made to recover from the damage caused by Helene
• Strengthen the grid against storms and outages
• Maintain and upgrade its power-generating fleet
• Serve a growing customer base while supporting economic growth in South Carolina

Duke Energy says the Public Service Commission of South Carolina recently approved these updates for Duke Energy Carolinas and Duke Energy Progress customers.

“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.”

Duke Energy states that securitization — selling low-interest, long-term bonds — is one way the company generates savings and keeps costs lower for customers, while recovering large and unexpected expenses, such as those that came from Hurricane Helene.

The Public Service Commission approved a securitization plan that will save customers in the Carolinas over $140 million on Helene expenses, the company said.

Starting this month, the typical customer in the Carolinas will see a new storm charge on their bill, reflecting a 3.2% increase, which is approximately $4.58. The increase delivers a 20% savings for customers over the recovery period compared to traditional cost and recovery methods, according to Duke Energy.

“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,” Pearson said.

Duke Energy says it is also making investments in upgrades to strengthen the grid and improve reliability and storm resilience.

As part of these upgrades, the company says it nearly tripled the number of South Carolina customers served by self-healing technology over the past two years, with over 70% of customers now benefiting from this innovative automated power restoration tool.

“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.”

Starting March 1, monthly electric bills for the typical residential customer in the Carolinas who uses 1,000 kilowatt-hours a month will increase by about 84 cents a month. This will bring their bill from $148.02 a month to $148.86 a month.

“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,” Pearson 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 says its aggressive energy efficiency programs deliver annual savings that are 150% better than the national average. In South Carolina, the company recently increased the incentives of many of these programs, expanding ways customers can save money.

Click here to learn more about these programs and other ways Duke Energy helps customers manage their energy bills.

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