Home     About Us     Programs     Administration     News     Contact Us

Core Guidelines

 

  1. General
  2. Funding Levels
    1. Funding of AdvanceSC
    2. Funding for Programs
  3. Eligibility and Use of Funds
    1. Public Assistance Programs
    2. Economic Development Initiatives
    3. Educational Programs
    4. Manufacturing Competitiveness Fund

  1. Funding Levels
    1. Funding of AdvanceSC

      Duke Energy Carolinas will fund AdvanceSC with 50 percent of the South Carolina allocation of profits from certain Duke Energy Carolinas wholesale or Bulk Power Marketing (BPM) sales of electricity made from January 1, 2004, to December 31, 2010.  The annual 50 percent allocation is referred to in these Guidelines as the “Annual Fund Amount.”  With the exception of 2004, the Annual Fund Amount for a particular year shall be determined and paid to AdvanceSC by June 30 of the following year. Thus, for 2005, the Annual Fund Amount will be paid to AdvanceSC by June 30, 2006; for 2006, the Annual Fund Amount will be paid to AdvanceSC by June 30, 2007; and for 2007, the Annual Fund Amount will be paid to AdvanceSC by June 30, 2008. The Annual Fund Amount for 2004 will be distributed to AdvanceSC in 2004 and 2005, with the final distribution by June 30, 2005.

      Funding could be terminated sooner if the Public Service Commission of South Carolina establishes new rates for Duke Energy Carolinas after a general rate case.
    2. Funding for Programs
      1. Public Assistance Programs: Six hundred and fifty thousand dollars ($650,000) will be allocated to the Public Assistance Programs per year. The 2004 allocation of this amount will be distributed as follows:  The Share the Warmth program will receive $275,000 in 2004 and $275,000 in 2005. The Cooling Assistance program will receive $80,000 total for 2004 and 2005, and the Fan-Heat Relief program will receive $20,000 total for 2004 and 2005.

        The $650,000 allocation for 2005 through 2010 respectively will be allocated in the following manner annually:  Share the Warmth $400,000, Cooling Assistance $80,000 and Fan-Heat Relief $20,000. The remaining amount of $150,000 in each of those years will be held in reserve and distributed to eligible agencies in the event of severe weather conditions or other emergency conditions that warrant funding of the agencies.

        To the extent that the Annual Fund Amount to AdvanceSC (net of the operating costs for AdvanceSC) is less than $650,000, the entire funding amount will go to the Public Assistance Programs and be distributed in the same proportion as if the entire $650,000 had been received.

        Notwithstanding any other provision in these Core Guidelines, the board may elect to allot up to 10 percent of the Annual Fund Amount to AdvanceSC (net of the operating costs for AdvanceSC) to the Public Assistance Programs.
      2. Economic Development Initiatives: Twenty-five percent of the Annual Fund Amount (net of the operating costs for AdvanceSC) remaining after the allotment to the Public Assistance Programs will go towards the Economic Development Initiatives.
      3. Educational Programs: Twenty-five percent of the Annual Fund Amount (net of the operating costs for AdvanceSC) remaining after the allotment to the Public Assistance Programs will go towards the Educational Programs. If such amount is $750,000 or less, the amount will be distributed equally among the high school, college/ university and technical college programs. If the amount is greater than $750,000, then the high school and college/university programs will each receive $250,000 per year in funding, and the remaining amount will go to the technical college program.
      4. Manufacturing Competitiveness Fund: Fifty percent of the Annual Fund Amount (net of the operating costs for AdvanceSC) remaining after the allotment to the Public Assistance Programs will go to the Manufacturing Competitiveness Fund.