Duke Energy Carolinas Requests Rate Review by Public Service Commission of South Carolina

(Duke Energy Photo)

Duke Energy Carolinas on Jan. 4, 2024, asked South Carolina regulators to review its current rates – the first such review since 2018 – as the company said it continues working to increase system diversity and reliability, enhance the customer experience and meet future energy demands for more than 658,000 customers, primarily in the Upstate region of South Carolina.

"We realize many of our customers are facing challenging times and we are committed to working to keep customer bills as low as possible," said Mike Callahan, Duke Energy's South Carolina president.

"We also know that our customers expect us to responsibly invest for the future to increase the reliability and resiliency of our system, help reduce outages, protect against damage from extreme weather and provide them with the level of service they expect. These investments are the main reason for the proposed rate increase," Callahan said.

To mitigate the requested rate increase filed with the Public Service Commission of South Carolina (PSCSC), the company proposes to accelerate the return of excess deferred income tax benefits resulting from the Federal Tax Cuts and Jobs Act of 2017 ("Tax Act").

This proposal more quickly returns the outstanding tax benefits due to customers, making the requested increase in annual retail revenues about 11.4 percent, or a $239 million increase, over the first two years that the new rates would be effective, according to Duke Energy officials.

An additional overall increase of about 4.1 percent would occur after the first two years once the reduction for excess deferred income taxes expires.

If the proposal to mitigate the requested increase is not approved, it would result in a requested annual revenue increase of $323 million, or overall increase of about 15.5 percent, starting in year one of newly effective rates, Duke Energy officials said.

If approved by the PSCSC, a typical residential customer using 1,000 kilowatt hours will see an increase of about 14.6 percent or $17.83 per month beginning Aug. 1, 2024. Beginning Aug. 1, 2026, residential rates would increase another 4.8 percent, resulting in an additional $10.25 per month.

Duke Energy has numerous current and proposed energy efficiency programs available to customers who would like to exercise more control over their usage to lower their bills, which could help minimize the impact of the requested increase.

Customers struggling to pay their energy bills might also qualify for assistance from various government and nonprofit programs for utility bills and other household expenses.

Duke Energy also offers programs and resources to help customers manage their usage to lessen the impact of rate changes, as well as flexible payment arrangements to help customers experiencing uncertainty.

Additional customer support is available through the Share the Light Fund, a Duke Energy program that provides energy assistance.

To learn more about these programs, details of the company's proposal and the rate review process, go to duke-energy.com/SCCarolinasRates.

South Carolina Achieves Second-Highest Industry Recruitment in 2023

The South Carolina Department of Commerce (S.C. Commerce) released its 2023 industry recruitment results which reflect sustained economic activity.

From January to December 2023, the state announced total capital investment of $9.22 billion, the second largest amount in state history. That investment represents 81 projects and 14,120 announced jobs.

“Once again, South Carolina has proven that it is among the best places in the world to do business,” said Gov. Henry McMaster. “Over the past year, our state proactively prioritized trends and topics that are crucial to maintaining a vibrant and competitive economy."

McMaster added, "Recording the second-highest year for industry recruitment in state history not only confirms the sustained interest for doing business here, but also signals to the global business community that South Carolina is a trusted partner for successful businesses.”

The announced capital investment of $9.22 billion includes major investments in the state’s two leading industry sectors by total investment, Automotive, Electric Vehicles (EV) and EV Batteries with $4.3 billion investment, and Alternative Energy and Fuels with $1.56 billion investment.

Notably, in 2023, there were three announcements with investments of $1 billion or more — the highest such year in state history:

Scout Motors

Albemarle Corporation

QTS Data Centers.

The previous record, of two projects with an investment of $1 billion or more in a single year, was set in 2014 and tied again in 2022.

Advanced Technology International Selected To Manage New BARDA Biopharmaceutical Manufacturing Preparedness Consortium

Advanced Technology International (ATI), a public-service nonprofit based in Summerville, S.C., has been awarded an Other Transaction (OT) Agreement by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness (ASPR) and Response within the U.S. Department of Health and Human Services, to serve as the consortium manager for the new 10-year Biopharmaceutical Manufacturing Preparedness Consortium (BioMaP-Consortium).

The BioMaP-Consortium aims to improve and expand the industrial and manufacturing base for medical countermeasures during and in between public health emergencies.

The BioMaP-Consortium is comprised of industry partners across the drug and vaccine manufacturing supply chain, including manufacturers of required raw materials and consumables, suppliers of drug substance manufacturing and fill finish services, and developers of innovative manufacturing technologies.

"ATI recognizes the public health threats our nation faces, and we are committed to BARDA's pursuit to fortify the nation's health security and bolster preparedness and response capabilities," said Chris Van Metre, ATI president and CEO. "We are honored to be selected to support BARDA in accelerating the development and delivery of these lifesaving medical countermeasures."

The project has been funded in whole or in part with federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority, under OT number #75A50123D00003.

ATI builds and manages collaborations that conduct research and development of new capabilities to solve the nation's most challenging problems.

Supported by a community of experts from industry, academia, and government, ATI said it expedites innovation to help the federal government quickly identify and acquire novel technologies and solutions.

Carolinas AGC Announces 2024 Directors

Carolinas AGC announced its 2024 board of directors.

The CAGC board includes:

Chair: Dean Wilson, Hood Construction Company, Inc.
Chair Elect: Ty Edmondson, T.A. Loving Company
Treasurer: Lynn Hansen, Crowder Constructors Inc., Charlotte NC
Vice Chair: Marty Moser, Barnhill Contracting
Immediate Past Chair: Mark Johnnie, Balfour Beatty
Highway/Heavy Chair: Lee Bradley, Blythe Construction, Inc.
Building Chair: John Edward Griffith, Trident Construction
Utility Chair: Kevin Moorhead, Don Moorhead Construction
Specialty Chair: Mark Muller, Wayne Brothers Companies
Supplier Chair: Matt Lilly, Bradley, LLP
At Large: Beth Muter, Muter Construction
At Large: Jim Roberts, Langston Construction
At Large: Jonathan Bivens, S.T. Wooten Corporation
Specialty/Supplier Director: Sherita Evans, Southern Commercial Development
Young Leader Director: Clay Tresher, Marsh & McLennan Agency.

Carolinas AGC is the construction industry association in the Carolinas, aiding members through networking, government relations, job leads, meetings with owners/designers, education and training involving such issues as safety and open shop, and community development. 

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