Duke Energy Corp. said Wednesday it is willing to take less than half of the rate increase it sought in February for electricity customers in Western North Carolina under a deal with a state regulatory division responsible for representing consumers.Read the full article
The power company said it agreed with the N.C. Utilities Commission’s Public Staff, which is responsible for representing consumers, to take a $205 million rate increase each of the first two years, increasing to $235 million after the third year.
The deal would allow a rate increase that includes a 10.2 percent return on equity, a measure of profit.
Details such as how hard the rate increase would hit households and other types of consumers are expected next week. ...
“This is the third time in four years that Duke has asked for millions in inappropriate charges, then split the difference with regulators,” a statement by the state chapter of AARP, Greenpeace and others said.
Read more articles in:News