Duke Energy Corporation
Duke Energy Carolinas Reaches Partial Settlement in South Carolina Base Rate Case
Summary
On November 11, 2025, Duke Energy Carolinas, LLC (DEC) and the Office of Regulatory Staff (ORS) reached a partial settlement in the base rate proceeding filed with the Public Service Commission of South Carolina (PSCSC) on July 1, 2025. The Stipulation includes an approximate $74 million annual customer rate increase, a return on equity of 9.99%, a South Carolina retail rate base of $7.9 billion, support for DEC's proposed annual storm reserve funding increase to $10 million, support for DEC's proposed annual pension cost rider, and agreement for nuclear and other production tax credit flow back to customers. The Stipulation is subject to PSCSC review and approval. An evidentiary hearing is scheduled for November 13, 2025.
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About Duke Energy Corporation
Duke Energy Corporation is an American energy company with a focus on electric power generation and distribution. It stands as one of the largest electric power holding companies in the United States, servicing around 7.9 million customers across six states in the South and Midwest. With a diversified energy portfolio, Duke Energy operates an array of power plants including coal, natural gas, hydroelectric, and increasingly, renewable energy sources like wind and solar. This diversification enhances its resilience and ability to adapt to the evolving energy landscape. Duke Energy's primary role is generating, transmitting, and distributing electricity, it also makes strides in natural gas distribution and achieving carbon neutrality, with ambitious goals to reduce carbon emissions. The company plays a pivotal role in shaping energy policy and pursuing sustainable energy solutions, thereby impacting both economic growth and environmental stewardship across regions it serves. Headquartered in Charlotte, North Carolina, Duke Energy is integral to the energy infrastructure, influencing sectors from residential and commercial electricity to industrial energy needs.
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