Duke Energy's (DUK) Subsidiary Eyes More Revenues in South Carolina
A senior executive of the energy sector company speaking in front of a board of investors.
The proposed rate increase will result in a monthly bill increase of up to $10.38 for residential customers using 1,000 kilowatt-hours of electricity. Commercial customers are to experience a 5.4% average bill increase, while industrial customers will face an average increase of about 5.2%.
The proposed rate increase will increase Duke Energy's annual revenue in South Carolina by up to $150.5 million. The increase is in response to the investments the company has made in the power grid, improved reliability, and storm resilience.
While we acknowledge the potential of DUK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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