COLUMBIA, S.C. (AP/WVOC) - Regulators have approved a rate increase of about 10% over the next two years for Duke Energy Carolinas customers in our state.
The Public Service Commission says Duke Energy's residential customers will see about a 7% increase starting later this month with an additional 3% increase in 2014.
The utility initially asked for a 15% increase, but the Office of Regulatory Staff countered by asking the commission to cut it in half.
The 10% increase is a compromise.
Officials say the utility needs the additional money to recoup what it has already paid for new power plants and equipment to comply with regulations.