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mikeyj Nov 29, 4:47 p.m.
On the light side of all this: MD-2020 sales expected to soar!:-}
Zoey0815 Nov 29, 3:55 p.m.
Worland - have you every been to Pittsburgh? Have you seen the result of coal power? It's not good. Have you been to Tennessee since the 1.1 million gallon of coal ash was released into the local communities? Yeah, clean power is a really bad idea. God forbid we try and take care of the planet we are handing to our children.
westernwake1 Nov 29, 3:25 p.m.
"westernwake1: When two competing utility or cable companies share the same area what happens is they both have to lay down the infrastructure throughout the entire area to provide their services. This means that there is twice as much maintenance, start up costs, etc spread out over the same number of customers. Sure they might not turn as much profit, and they probably do have better service but that doesn't mean lower rates" - All the People
There have been numerous articles over the past 10 years pointing to examples where competing utilities in the electric, cable, and gas space lead to both improved customer service and lower rates. This is due to competition.
If I am the only restaurant in town then I can charge any fee I want for my food and have lousy customer service. The minute a second restaurant opens then I need to compete in terms of pricing and customer service. The same reality applies to the utility market.
OpinionatedGuy Nov 29, 3:23 p.m.
Alot of power employees sticking up for the power company... Interesting... But, we are the 99 percent and we will not lie down, we will speak out against price increases to the wealthy corporate greed!
cantstandya Nov 29, 3:08 p.m.
shuga,' I feel your pain and participate in their gain,they got us and it only is going to get worse.
Karmageddon Nov 29, 3:04 p.m.
"reason for hike:::::: recent aquisition of Progress Energy. with all that new customer base Duke will pay for and enjoy then they come with rate increase:::::: absolutely ludicrous"
Your statement is ludicrous.....
peterpepper Nov 29, 2:50 p.m.
You should be with Randolph electric, they raised their cost of purchase power and fuel adj. almost 2x since Jan. of this year, talk about a rip off !
storchheim Nov 29, 2:28 p.m.
There was never any consumer-level competition because you don't have a choice about which company supplies your power, phone, or cable.
Get a gas-powered generator, a cell phone of your choice, and drop the cable. Not much else you can do.
storchheim Nov 29, 2:17 p.m.
veyor, instead of being bitter, why don't you get a job at PE? Thanks for the info about their employees getting raises. I'm going to see what jobs they have open. The last time I got a raise, as opposed to changing jobs for a higher-paying one, was in 2007.
All the People Nov 29, 2:03 p.m.
westernwake1: When two competing utility or cable companies share the same area what happens is they both have to lay down the infrastructure throughout the entire area to provide their services. This means that there is twice as much maintenance, start up costs, etc spread out over the same number of customers. Sure they might not turn as much profit, and they probably do have better service but that doesn't mean lower rates.
cantstandya Nov 29, 2:00 p.m.
Employees benefits should not be at the exspense of the consumer,that is an entitlement that should be governed by not inflated cost of energy paid for by the consumers,these companies operate with disreguard for what this nation is going through yet are given tax breaks and funding for exploration while we pay the brunt of their lucrative packages through taxes and high energy cost,operating much like the federal government and their employees benefits that are unquestionably the best in America since they also are at the taxpayers. exspense.
mrman2a Nov 29, 1:42 p.m.
Thank obama and the EPA.You ain't seen nothing yet.Just give him four more years!
A Libertarian Nov 29, 1:12 p.m.
cant - you can explain the facts till you are blue in the face, but the socialists on here will always make up there own stories. Duke has told and told everyone of future hikes of grenn energy. No body paid them anymind, but now you have to pay for them, the left shouts foul and still do not have a clue!
cantstandya Nov 29, 12:46 p.m.
The cap and trade programs enforced in our state only drives our cost of energy up and the money generated from this plan is used for other government ptograms,it extracts significant amounts of money from our southern states and redistributes it to areas that have nothing to do with climate change or renewable energy to other parts of the country,this program alone drives our cost up depending on emissions cost and is always payed by us the consumer who realize little benefit,it serves as a source of government funds and hurt our industry in this state.
OpinionatedGuy Nov 29, 12:33 p.m.
Duke Energy is just looking for a way to recoop the money they are spending to purchase Progress Energy... Plain and simple... Duke Energy thinks that you and I should pay the bill... How nice, buy a company with someone elses money and then charge them more...
common_sense_plz Nov 29, 12:27 p.m.
Between Fuel companies and utility companys and state and federal taxes. we will all be homeless and starving.
A Libertarian Nov 29, 11:50 a.m.
cave, hot and otehr lefties - Not sure what part you guys do not understand. Duke tolad you 2 years ago when the green mandates come out, there would be a staged 20% increase, and you guys on the left said hoorayy!!!! Now you get them, you act like it all Dules fault. Duke has to abide by these ignorant regulations. Green enery cost $220 k/h and nat gas is $40 k/h. You do the math. The sad part is nat gas is actually cleaner after you factor in solar cell manufacturing, etc.
DavyCrockett Nov 29, 11:48 a.m.
The public is demanding that utilities "go green". Duke is doing just that. There's a price for going green as the public big mouths and their shill politicians have demanded. Therefore, the public needs to pay the higher resulting price. Belly up to the bar greenies. You are reaping what you have sown.
Caveman93 Nov 29, 11:36 a.m.
Huh? Must be that the now 20+ million empty homes which have been foreclosed upon is now having a greater impact on revenue for utilities? Huh? I'm so surprised! I would expect once an infrastructure has been bought for with leverage/debt and these companies didn't factor in a depression level event, yeah, they will hike rates.
hotshotpys Nov 29, 10:36 a.m.
I wonder when everyone is going to pick up on this old tactic, practiced by oil companies as well...they throw out a high price increase, people yell and protest; the companies drop their prices to what they originally planned and figure everyone will accept their "generous" compromise...sheesh!!!
bking87 Nov 29, 10:25 a.m.
And progress energy costomers will have to put up with bad service. I was with Duke power in the early 2000 in Durham and it took them forevery to do anything. I moved from one apartment to another one and it took them 5 day to transfer the power
caroexc Nov 29, 10:15 a.m.
reason for hike:::::: recent aquisition of Progress Energy.
with all that new customer base Duke will pay for and enjoy then they come with rate increase:::::: absolutely ludicrous
redrubberball1 Nov 29, 10:14 a.m.
Does anyone remember when the phone companies were deregulated? Prices went up. How about electric utilities in Calif? Prices went up. Be careful what you wish for, you may get it.
tran Nov 29, 10:08 a.m.
Competition in electric power is impractical, unless you want a rat's nest of lines everywhere. Electrical power transmission and distribution lines are infrastructure just like water and roads.
redspringssean Nov 29, 9:44 a.m.
Go bankrupt? You think. If so, then why are the Chi-Coms providing billions in bond money to the utility if it's such a bad investment.
Tarheel born Nov 29, 9:42 a.m.
I don't understand what the big fuss is about. Every year every customer that has Time Warner Cable gets a nice little letter with the increase on every service they offer. I don't know about anyone else but I don't see anything better with the service year after year except more garbage. Who the heck needs 7 shopping channels? And why do I have to pay for channels that don't even broadcast in English? I can go down to the local wal-mart to hear that for free.
November 28, 2011 4:34 p.m.
This was just too funny. It has already brightened my day!
westernwake1 Nov 29, 9:30 a.m.
"If there actually was a spike in competition here everyone would see their rates increase much more than they are right now." - All the People
Actually the reaility is that the few places in the U.S. that have competition from generating utilities for consumer electricity to the home have the LOWEST power rates in the U.S.
The same goes for the few markets where more than one cable franchise is allowed in the town. These towns have the lowest cable rates and highest rated cable customer service in the U.S.
Yes, competition does work.
davidgnews Nov 29, 9:09 a.m.
Reckless board room decisions on their part will be borne by the consumer, not unlike citizens bearing the brunt of poorly made decisions by politicians. Maybe they'll be 'too big to fail' after this merger.
Rebelyell55 Nov 29, 9:05 a.m.
People can protest all they want but in the end Duke Power has to make a profit. If they go bankrupt it will mean another government bail out.
November 29, 2011 8:54 a.m.
Ya think they'll go bankrupt if they don't get the hike? lol. They can go with out this rate increase, and cut some and still would make a profit. Wouldn't question why they drop from a 13% request that got turn down to now a 7% request? It would appear that they don't know what they need, only they want more money for their share holders. Look at the reason for the request.
Screw WrAl Nov 29, 9:04 a.m.
Awwwwwwwwwwww, they are protesting. BIG DEAL!
Your rates have already been jacked. Deal with it and turn your ac off you cry babies.
Karmageddon Nov 29, 9:00 a.m.
Thank the people who only want "green energy". It might be green but it ain't cheap.
ncsu305009 Nov 29, 8:54 a.m.
It is amazing to me that no one in the media has questioned why the head of Progress Energy, which has its headquarters in Raleigh, no longer lives in Wake County, but now lives in the Charlotte area, even though the merger has not been approved. Think about it.
superman Nov 29, 8:54 a.m.
Geez $7.00 a month increase. Cost them that much in gas to attend the meeting. People can protest all they want but in the end Duke Power has to make a profit. If they go bankrupt it will mean another government bail out.
aetius476 Nov 29, 8:51 a.m.
Well Duke's proposed 7% rate hike is still less than OWASA's ANNUAL water rate hike in Chapel Hill area. These monopolies are so arrogant!
And does the commission seriously think it is appropriate to allow Duke to recover for "added employee benefit costs"? Are these not to be controlled internally. Is it fair to lavish more and more benfits on your overpaid employees and just stick the consumers of your monopoly with the cost?
The commission is NO representative of the citizens!
superman Nov 29, 8:50 a.m.
Some of you expect free electricity while on the other hand you have no reservation about spending over $100 a month for your cable TV. How about the other $100 you spend for your cell phones? $7 a month increase only means you will only eat one less burger a month. "Me thinks you protest too much"! The bottom line here is that they have to make a profit. Everthing has increased in prices and cost. People need to learn to live within their means. My house and 3 cars are paid for. I pay off my credit card every month and get money back. But then I was extremely lucky. I worked two jobs for over 20 years working 60 hours a week. My house has about 2,200 sq ft and my utility bill was under $80 last month. My cable was $140.00. I must be the only adult in the country that has not found it useful or necessary to have a cell phone. I am retired now and after paying my bills I still save over $2,000 a month.
artist Nov 29, 8:45 a.m.
Bad idea... and insensitive.
Rate hikes at the same time you are wanting to merge?
Big business never even ties to hide the greed anymore.
But - this is America and the middle class wants their 401k to grow, right?
Ironic - they lose any profits earned to higher energy bills.
Caveman93 Nov 29, 8:42 a.m.
Wait until food prices shoot up! Protest lines will start in the Cheetos Aisle Lane 4!
nomorethanthat Nov 29, 8:35 a.m.
I don't believe that anyone has brought this up. Is this requested rate hike in anyways connected to spread sheet offsetting of the construction and operating expenses for its nuclear sites on the West coast, in South Carolina and in other locations where Duke provides electricity? Was the intent behind merging with Progress Energy also for same?
me2you Nov 29, 8:22 a.m.
Absolutely tyrannical to raise rates.
All the People Nov 29, 8:10 a.m.
"We need a good dose of competition. The government eliminates competition just like they do in health care."
If there actually was a spike in competition here everyone would see their rates increase much more than they are right now.
dontstopnow Nov 28, 7:46 p.m.
ok, so I know the cost and space involved in solar panels folks. And yes I have done the research, it is costly to go solar. And I might not ever see the 'break-even' point but one of my children or grandchildren will. Talking about doing something different is nice, but doing something different is even better!
NCPictures Nov 28, 7:25 p.m.
"progress energy just had a rate hike! But I am beginning to buy solar panels and generate power for my out buildings and chicken houses. Once I can get it all sorted and see how it works and how well it works, I will move on to get my house on solar. It will take a while, but hey, better than just taking it from the power companies. :)" ----Heavenly
You obviously have not looked a the ROI on solar panels, and the systems involved in producing power off of panels. Trust me, I have. I do not have solar panels.
jrfergerson Nov 28, 7:13 p.m.
Isn't this the same Duke Energy that said during the merger hearing that they would be able to save the consumers money because of the merger?..But perhaps all this is coming from James E. Rogers, Duke Energy's CEO who has unpaid property tax on his home this year. Although he is appealing it, he may need the extra revenue of rate increases to pay the $65,502.94 tax bill on the home he paid $6,000,000 for. Here's the link to his tax bill (public records are great): http://taxbill.co.mecklenburg.nc.us/publicwebaccess/BillDetails.aspx?BillPk=7504508
mfarmer1 Nov 28, 7:11 p.m.
redrubberball1 Nov 28, 7:08 p.m.
"progress energy just had a rate hike! But I am beginning to buy solar panels and generate power for my out buildings and chicken houses. Once I can get it all sorted and see how it works and how well it works, I will move on to get my house on solar. It will take a while, but hey, better than just taking it from the power companies. :)" Heavenly
Solar power is a low energy technology. Before you can employ it effectively, you have to review your energy use and cut it to the bone. Then you have to pay for all the energy you'll use for the next 30 or so years, up front. If you're over 45 years old, you may not even live long enough to amortize the cost during your lifetime. It sounds great, in theory, but it's still not practical enough. Bank the difference in what you're paying for electricity at todays rates and what solar will cost you and invest that difference and you'll likely come out in the plus column, even with rate increases.
westernwake1 Nov 28, 7:03 p.m.
"For all of you that are so against companies, become a shareholder. It isn't hard." - cantstandgoloanymore
This has nothing to do with a company's stock. Duke is a regulated monopoly. They are given a monopoly to provide electricity to particular parts of the state with no competition. Due to this they have given permission from the state for any rate increases to be sure the increases are in-line with reasonable returns. The regulation board is appointed by politicans that you voted into office.
A 7.2% increase in an economic environment where fuel costs have not gone up and Duke has already fought upgrading equipment for years is absurd. The burden should not be on the rate payers for Duke's poor corporate decisions.
Milkman Nov 28, 7:01 p.m.
Electric utilities ARE monopolies. They are guaranteed a profit by the state in exchange for providing the service to the people. When the State of NC says "you must stop using as much coal" then the utility MUST do it. The expenditures were both required and approved by the State of NC.
If the rate hike isn't high enough, Duke could just refuse to provide the service. The State could nationalize Duke and do it themselves, and you think the State could run it better? That 7.2% increase would be quarterly, and they'd still lose money.
When your bill from Duke goes up, remember the State told Duke to spend the money to be more green, that the State guarantees that Duke makes money and remember that that Duke can't charge you a dime without the approval of the State.
redrubberball1 Nov 28, 6:51 p.m.
"What should really make all our blood boil... is the fact that current energy supply and distribution, including payment, is sooooo unnecessary. Ever hear of Nicoli Tesla? You know... the guy who brought us Alternating Current... Anyway, he proved that unlimited amounts of energy could be produced, free of charge (once the supply towers were built), for all to enjoy. The system worked with nature, not against her... and was the first true Green Energy concept in our current history... Matter of fact, Tesla himself used the words "clean and green" when referring to energy. Of course, then sponsor JP Morgan (that's right... the man himself that formed JP Morgan which later merged to become JP Morgan Chase - who btw got bailed out and is currently sinking Europe's economy)killed Tesla's idea citing he would be damned if were gonna give it away!!!"
This is not factual, it's baloney.
HeadPro Nov 28, 6:48 p.m.
progress energy just had a rate hike! But I am beginning to buy solar panels and generate power for my out buildings and chicken houses. Once I can get it all sorted and see how it works and how well it works, I will move on to get my house on solar. It will take a while, but hey, better than just taking it from the power companies. :)
AGREED!!! While you're at it... put in geothermal heat and air...that's a 110V system and will save you tons!!! Lots of other ways to save too!
redrubberball1 Nov 28, 6:48 p.m.
"wrong redrubberball. users save it, then the power company raises rates to compensate for their losses. gotta get that executive bonus somehow. hooray for going green."
Not enough users save energy. They therefore act as a brake on rates. Be glad, because if they did, we'd all be in for large rate increases. Vote for some more government programs and the printing presses will run overtime until our money is worthless. Then you'll see the "mother of all rate increases" as our purchasing power becomes zero.
Published: 2008-01-11 14:37:00
Updated: 2010-06-21 13:53:03