Electricity Rates

Is Duke Rate Hike Settlement A Deal Or A Dupe?

Julie Rose — Thu, 13 Jun 2013 21:02:16 +0000

Duke Energy has struck a deal with the state's top utility customer advocate that, on the surface, seems like a pretty good deal for ratepayers. But some advocacy groups wonder if we're being played.

A pattern is emerging: Two years in a row, Duke Energy has come in asking for a big rate hike - 9.7 percent in this latest case - only to turn around a few months later and settle for an increase half as big.

Court Orders Regulators To Reconsider Duke Rate Hike

Julie Rose — Fri, 12 Apr 2013 20:36:57 +0000

The North Carolina Supreme Court has ordered state utility regulators to go back and reconsider the rate hike it granted Duke Energy last year. Specifically, the court says North Carolina Utilities Commissioners failed to consider how the increase would affect customers in the midst of an economic downturn.

Duke's 2012 Earnings Bolstered By Higher Rates

Julie Rose — Wed, 13 Feb 2013 21:49:21 +0000

Duke Energy reported modest earnings for 2012 of about $3 per share – but the number would have been much lower if Duke hadn't raised electric rates in the Carolinas by 7 percent last year. WFAE's Julie Rose reports on this classic case of conflicting interests – where pain for ratepayers means profit for investors:

Duke Energy Seeks 11.8% Rate Hike For Residential Customers

Julie Rose — Mon, 04 Feb 2013 20:08:37 +0000

Duke Energy wants to raise rates again on its North Carolina customers – this time by nearly 12 percent for residential users. WFAE's Julie Rose reports on the company's latest request to state regulators.

Duke Rate Hike Case Set To Go Before NC High Court

Julie Rose — Mon, 12 Nov 2012 22:06:25 +0000

The North Carolina Supreme Court will hear a case Tuesday claiming Duke Energy's latest rate hike is harmful to customers and should not have been granted. Attorney General Roy Cooper hopes the high court will strike down Duke's rate hike and change the way future increases are approved by regulators.

Duke Energy originally asked for permission to raise rates for the average household by 17%, but regulators agreed to just 7%.

Even at that lower rate, Duke managed to lock in a 10.5% profit for shareholders, which is where Attorney General Roy Cooper takes issue.

Duke Warns Troubled Plants To Cost $280M More

Julie Rose — Wed, 31 Oct 2012 20:35:47 +0000

The cost to build Duke’s coal-fired plant in Edwardsport, Indiana was already about a billion dollars over original estimates.

Now the testing of new technology to burn coal more cleanly at the plant is taking longer than expected and adding $180 million to the cost.

Duke spokeswoman Angeline Protogere says this should be the last expensive delay for the Edwardsport plant.

“We believe this is a realistic cost for the project,” says Protogere.