Duke Energy Carolinas customers in Upstate South Carolina dey go see smaller rate increase pass wey dem expect initially. If state regulators approve settlement on Duke Energy's July rate hike proposal, e go mean say bills go increase small for March.
Smaller Rate Hike Than Expected
For residential customers wey dey use 1,000 kilowatt-hours per month, dem go see increase of 84 cents per month, from $136.82 to $137.66, starting from March 1. After two years, that bill go increase another $4.21 per month to $141.87.
Duke Energy Carolinas talk say dem need the rate increase to cover costs of improvements to grid reliability and resiliency. Dem also talk say e dey cover increased cost of capital wey dem need to fund those improvements.
Even though cost of living dey climb, the increase small pass the initial hike wey Duke propose. The initial proposal for 680,000 customers for Upstate be $10.38 hike to $147.19 on a household’s 1,000 kWh monthly bill.
Investment and Dividends
New York State Common Retirement Fund reduce dem stake for Duke Energy by 1.0% for the second quarter. But other investment groups like Quadrant Capital Group LLC increase dem stake.
Duke Energy beat expectations for the quarter with $1.81 EPS and revenue of $8.54 billion, wey be 4.8% increase year-over-year. The company announce quarterly dividend of $1.065 per share.
What This Means For You
- Smaller than expected rate increases for Duke Energy Carolinas customers.
- Continued investment in grid reliability and resiliency.
- Stable dividend payments for shareholders.
The annual revenue increase for Duke go be $74.2 million, instead of the $150.5 million wey dem propose initially, according to the settlement.
