February 13, 29203
Duke Energy Progress request cut by 41%
Columbia, SC—The South Carolina Small Business Chamber of Commerce (SCSBCC) has successfully intervened in a proposed electric rate increase by Duke Energy Progress (DEP) that would have yielded the company over $89 million in new revenue. The SC Public Service Commission has approved a comprehensive settlement that cuts the revenue increase by 41% to $52 million.
The SCSBCC and its President have intervened 9 times in electric and gas utility rate cases since the organization was founded in 2000, resulting in up to 75% reductions in proposed rate hikes. As the only chamber to formerly oppose these utility rate hikes before the PSC for the past 23 years, the SCSBCC is recognized as the premier protector of South Carolina small businesses in electric/gas rate cases.
DEP originally proposed a 12.1% rate hike on small businesses in its 13-county service area. Now starting April 1, small businesses will see only a 5.33% increase for about 33 months and then a 2.94% incremental increase.
SCSBCC president/CEO Frank Knapp Jr., commended the SC Office of Regulatory Staff for its hard work and leadership in opposing DEP’s rate hike, which resulted in securing this very favorable outcome for small businesses.
“For 23 years we have looked to ORS for the professional and thorough work the state needs to make sure South Carolina small businesses and all consumers are protected from the utility monopolies’ insatiable thirst for undeserved revenue,” said Knapp.
The other parties opposing DEP’s rate request and agreeing to the settlement are the SC Department of Consumer Affairs, the South Carolina Energy Users Committee, Southern Alliance for Clean Energy, Coastal Conservation League, Vote Solar, the Sierra Club, the Department of Defense/Federal Executive Agencies, Walmart, and Nucor Steel.