Electricity Rates

Local News
4:36 pm
Fri April 12, 2013

Court Orders Regulators To Reconsider Duke Rate Hike

NC Attorney General Roy Cooper challenged Duke Energy's 2012 rate hike and won.

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.

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Local News
4:49 pm
Wed February 13, 2013

Duke's 2012 Earnings Bolstered By Higher Rates

Duke Energy reported earnings of $3.07 per share for 2012, compared to $3.83 in 2011. The number would have been far lower without a 7-percent rate increase in the Carolinas.
Credit Duke Energy/Flickr

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:

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Local News
3:08 pm
Mon February 4, 2013

Duke Energy Seeks 11.8% Rate Hike For Residential Customers

Duke Energy's Cliffside Steam Station located on the Rutherford/Cleveland County line in North Carolina.
Credit www.duke-energy.com

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.

We knew this rate hike request was coming, but we didn't know how large it would be. Last time around, Duke asked to raise residential rates by 17 percent but settled for just over 7 percent when it finally took effect a year ago.  Now Duke Energy is proposing another 11.8 percent increase for residential customers.

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Local News
5:06 pm
Mon November 12, 2012

Duke Rate Hike Case Set To Go Before NC High Court

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.

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Local News
4:35 pm
Wed October 31, 2012

Duke Warns Troubled Plants To Cost $280M More

Duke Energy's new coal-fired plant near Edwardsport, Indiana
Credit Duke Energy

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.

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