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Duke Energy Progress proposes nearly $3 in monthly fuel savings for residential customers in South Carolina

GREENVILLE, S.C., April 29, 2016 /PRNewswire/ -- Duke Energy Progress is proposing close to $3 in monthly fuel savings for its customers beginning this summer.

If approved by the Public Service Commission of South Carolina (PSCSC), the new fuel rates, which would go into effect July 1, would be the lowest since 2006.

What's driving customer savings

On April 28, 2016, Duke Energy Progress made its annual fuel filing with the PSCSC for costs associated with the purchase of fuel.

Under the proposal, typical residential customers using 1,000 kilowatt-hours (kWh) per month would see their bills decline from the current $104.77 to $102.00, a savings of $2.77.

Commercial customers would see an average decrease in the fuel charge of about 2.9 percent, and industrial customers would receive an average decrease of about 4.5 percent.

The main reasons for the proposed overall decrease in rates include:

  • Lower projected coal and gas fuel prices, partially offset by higher projected nuclear fuel costs
  • An $11.2 million decrease in the prior period true-up of fuel costs, as compared to the prior period true-up included...