State News

Duke Energy to file for another rate increase

Posted January 8, 2013

— Duke Energy Corp. has told North Carolina utility regulators that it will ask for another rate increase soon.

The Gaston Gazette reported (http://bit.ly/WHL6cP ) that Duke late last week filed notice with the North Carolina Utilities Commission that it will file for another rate increase early next month.

The request comes less than a year after regulators approved a 7 percent increase for Duke.

Duke representatives have said for months the company plans to apply for an increase to pay for maintenance and upgrades to its systems.

Attorney General Roy Cooper has been fighting the increase that was approved last January. The North Carolina Supreme Court heard arguments on the challenge in November. Duke had originally requested a 17 percent increase but agreed to the 7.2 percent figure early last year.

Cooper said Tuesday that he has "real concerns" about the rate increases, which he said produce double-digit profit margins for the company.

"We believe that the Utilities Commission should have to look at the effect of the profit margin on consumers when considering that profit margin," he said. "We're going to continue to argue this. We're arguing it now in the Progress Energy rate increase. We'll argue it in the next one. Of course, we'll have to wait and see what the North Carolina Supreme Court says."

Progress Energy, which Duke acquired in July, filed last fall for a 12 percent rate increase, which the company said was its first request for higher rates since 1987.

58 Comments

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  • Sherlock Jan 9, 1:49 p.m.

    We should have stayed with Progress Engery.. But Duke does have power over the commission, see how they won the last case. So just pay up and wait for the next increase in a couple of more months.

  • goldenosprey Jan 9, 11:09 a.m.

    I'm reminded of MasterBlaster in Mad Max Beyond Thunderdome.
    Except Tina Turner's character didn't work for MasterBlaster.

  • JohnFLob Jan 8, 7:04 p.m.

    Pardon the pun but doesn't Duke have too much power already? Since they acquired Progress Energy, a lack and of progress and extortionist rates are sure to follow. When Duke feels too greedy now they can just flip a switch, and us off, and shut down the whole state.

  • limitguvment Jan 8, 6:59 p.m.

    Greed is rampant!

  • zonk Jan 8, 6:20 p.m.

    I know RM is a muni and what a co op is I belong to one NC is in the bottom third of nationwide rates Yea it is cheaper in Montana but alot of areas don't have service

  • lwe1967 Jan 8, 6:19 p.m.

    They are never happy! They want more and more! Why don't they cut the salaries of their top executives? They are paid too much for the little that they do! The merger was not a good thing! It should have stayed Carolina Power and Light. The public utilities should be elected instead of appointed by the governor!

  • Rebelyell55 Jan 8, 6:14 p.m.

    It will most likely happen, remember we just handed the goverment over to them this last election.

  • Scubagirl Jan 8, 5:24 p.m.

    "The people of N.C. have been had.
    ncpilot2"

    HAD is not the word I would use, but at least had gets by the censors

    And to those saying where are those who supported the merger---I don't think there were very many on this site from what I could tell both before during and after the merger as well as during the UC hearings.

    We can hope that the AG gets involved and is on our side.

  • superman Jan 8, 4:53 p.m.

    How many people do they have that are working on rate increases. Give them the rate increase and pull the plug on all those people making up lies as to why they need an increase.

  • goldenosprey Jan 8, 4:39 p.m.

    "The City of Rocky Mount is about 30% higher than our area. You do some research"
    I see Duke and their handmaidens in the UC are working diligently to close that discrepancy.

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