Power rate hikes set for customers around the Upstate

Many Upstate residents are set to see rate increase on the power bill in coming months. Duke Energy has announced hikes to come later this year. Not only with the rate increase on average of over 8% later this year, they have already set a 2nd planned increase in 2024.

The increase comes on top of the already rising cost of everyday living that has been driven by inflation. Duke Energy's statement on the rate increases is below.

“Beginning Aug. 1, 2024, a typical residential customer using 1,000 kilowatt hours will see an increase of about 8.7% or $12.06 per month. Beginning Aug. 1, 2026, residential rates will increase another 4.3% resulting in an additional $6.42 per month for a typical residential customer using 1,000 kilowatt hours.

Beginning Aug. 1, 2024, commercial and industrial customers will see an average increase of around 4.5 % (actual rates vary by customer class and size).”