Small Business Chamber negotiates a 75.6 percent lower Duke rate hike for small businesses

The South Carolina Small Business Chamber of Commerce (SCSBCC) for the seventh time has chalked up another big win onproposed energy rate increases by power companies. 

Yesterday a settlement in the Duke Energy rate filing was submitted to the S.C. Public Service Commission (PSC).  All parties intervening in the case, including SCSBCC, joined Duke and the S.C. Office of Regulatory Staff (ORS) in signing the settlement.

In March Duke asked the PSC for an overall 15.1 percent electric rate hike for its South Carolina customers—16.3 percent for residential, 14 percent for small businesses and 14.4 percent for industrial.

SCSBCC officially intervened in the case saying that the proposed hike was unjustified in general and was specifically unfair to small businesses.   In my role as SCSBCC president and CEO I gave pre-filed direct testimony outlining our argument that Duke did not deserve the excessive rate hike.

As a result of SCSBCC’s negotiations with Duke, providing that the PSC agrees to the settlement, small businesses will see only a 3.42 percent rate hike spread out over two years—2.29 percent the first year and 1.13 percent the second year.  This is a 75.6 percent decrease from the original small business rate hike filed by Duke.

The overall rate increase called for in the settlement is 8.16 percent.  Residential customers would see a 9.49 percent hike and industrial 7.73 percent increase.

SCSBCC thanks ORS for its hard work in analyzing the Duke filing, a laborious and intricate accounting task, and for its commitment during the negotiations to have a fair outcome for small businesses.  While many like to disparage state workers, small businesses could not have gotten a better return on our tax dollars paying the salaries of the ORS employees.