Comprehensive settlement in Duke Energy Progress. Small business rate hike dramatically cut

Comprehensive settlement in Duke Energy Progress. Small business rate hike dramatically cut

Press Statement
For Immediate Release
January 13, 2023

Contact:
Frank Knapp
803-600-6874
fknapp@scsbc.org

Below is a statement of Frank Knapp, president and CEO of the South Carolina Small Business Chamber of Commerce (SCSBCC).  The SCSBCC intervened in the SC Public Service Commission’s (PSC) hearing on Duke Energy Progress’s rate hike proposal that would have seen increased rates for small businesses by 12.1%.  A comprehensive settlement agreement signed by all parties has been submitted to the PSC for its approval.  SCSBCC is represented in this rate case by the Terreni Law Firm in Columbia.

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“The South Carolina Small Business Chamber of Commerce is pleased that a comprehensive settlement agreement has been reached by all intervening parties to Duke Energy Progress’s (DEP) proposed increase on electricity rates in its 13-county service area.  If the PSC approves the settlement, small businesses will not see their electric rates increase by 12.1% as proposed by DEP. Instead, small businesses will see only a 5.33% increase for about 33 months and then a 2.94% incremental increase.  The SCSBCC appreciates the hard work and leadership of the SC Office of Regulatory Staff in securing this very favorable outcome for small businesses.”

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