RALEIGH, N.C. -- A Senate measure sought by Duke Energy Corp. that could let utilities bypass lengthy regulatory battles over North Carolina consumer electricity prices by receiving multi-year rate plans and profit ranges has been tweaked in the House.
Duke Energy wants the option approved Wednesday by the House Finance Committee because it says it will reduce legal costs of going before the state Utilities Commission and provide customer predictability.
The commission wouldn't have to issue multi-year rulings unless it determines the result is fair and benefits the public. The House made changes to reduce those periods from five years to three.
The bill cleared the committee 16-12. Democrats opposing the measure said more study was needed and agreed with outside groups arguing it could harm consumers and benefit Duke Energy's coffers.