NC Attorney General challenges Duke Energy rate hike - WRBL

NC Attorney General challenges Duke Energy rate hike

Posted: Updated:
RALEIGH, N.C. -

The North Carolina Attorney General's office is opposed to Duke Energy's latest request for higher rates, it announced Wednesday morning.

"People are already struggling to pay their bills and utilities want to raise rates yet again," Attorney General Roy Cooper said in a statement. "We'll continue to fight these increases that fail to adequately take consumers into account."

Cooper filed late Tuesday with the North Carolina Utilities Commission to oppose the latest rate hike request by Duke Energy Carolinas, which could increase rates by 4.5 percent for the first two years and then 5.1 percent after that, the AG's office said.

This latest request to raise rates comes on top of a 7.2 rate hike for Duke Energy customers put in place earlier this year, which Cooper fought successfully in the North Carolina Supreme Court and is continuing to oppose.

The brief filed Tuesday focuses not on whether Duke Energy should be allowed to recover its investments, but on whether it should be allowed to raise customers' rates to make a 10.2 percent shareholder profit and a capital structure of 53 percent equity in this challenging economic climate.

In the brief, the attorney general cites an analysis by Moody's that shows North Carolinians currently pay a higher percentage of their household disposable income for electricity than all but six other states in the nation.

  • Trending StoriesTrending StoriesMore>>

  • 77-year-old questioned, defended as true Marine after NFL player takes his photo

    77-year-old questioned, defended as true Marine after NFL player takes his photo

    Tuesday, July 22 2014 1:58 PM EDT2014-07-22 17:58:35 GMT
    (WMC) - It was a story that made its rounds on social media. On a recent flight DeAngelo Williams, Mid-Southerner and running back for the Carolina Panthers, gave his first-class plane seat to a 77-year-old
    Family members are upset and hurt that their relative, James Wesley Bolden, is being called a liar and "a fake."
  • Largest companies by revenue in each state

    Largest companies by revenue in each state

    Thursday, July 10 2014 8:01 PM EDT2014-07-11 00:01:10 GMT
    Broadview Networks recently decided to find out the biggest -- by revenue -- company in each state in the US.The company used the Fortune 500 list to start with, but needed data by state, so it turned to Hoover's.With data from that company, they were able to search through each state's list of companies and then find the largest -- by revenue.Just flip through the list above and see who is the biggest in each state, what town they are based and their revenue.
    Broadview Networks recently decided to find out the biggest -- by revenue -- company in each state in the US.The company used the Fortune 500 list to start with, but needed data by state, so it turned to Hoover's.With data from that company, they were able to search through each state's list of companies and then find the largest -- by revenue.Just flip through the list above and see who is the biggest in each state, what town they are based and their revenue.
  • No swimming at some NC beaches due to high bacteria levels

    No swimming at some NC beaches due to high bacteria levels

    Wednesday, July 23 2014 12:36 PM EDT2014-07-23 16:36:19 GMT
    A map of the swimming areas along the NC coast that are affected by the recent high levels of bacteria.A map of the swimming areas along the NC coast that are affected by the recent high levels of bacteria.
    Six advisories and three alerts were issued against swimming Tuesday at nine ocean-side sites along the coast of North Carolina.
    Six advisories and three alerts were issued against swimming Tuesday at nine ocean-side sites along the coast of North Carolina.
Powered by WorldNow

1350 13th Avenue
Columbus, GA 31901

Telephone: 706.323.3333
Fax: 706.327.6655
Email: news@wrbl.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.