Opposing Duke Energy’s Rate Hike

On Saturday, the president and CEO of the South Carolina Small Business Chamber of Commerce filed his direct testimony in Duke Energy ‘s electric rate case before the state’s Public Service Commission.

Duke is seeking a 15.1% average increase for all customers and 14% for small businesses. 

Mr. Knapp’s testimony argues that the company’s request is unjustified both in its entirety and specifically for small businesses.  You can read the full testimony here.

Here are the key points Mr. Knapp makes in his testimony:

-Duke is requesting a far higher return on equity than is necessary for the company to be profitable.

-Duke is not offering its customers On-Bill financing to help them afford to make energy efficiency improvements to their homes or businesses in order to save money on their utility bills.

-Duke has used its influence to block legislation that would remove the biggest barrier to customers using solar energy by allowing third parties to purchase and install solar panels on buildings and then selling the electricity it to the occupants.

-Duke’s proposed rates forces small businesses to unfairly subsidize all other classes of customers including big businesses.

You can find the full testimony here.