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NC high court hears AG Duke Energy rate challenge

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EMERY P. DALESIO
AP Business Writer

RALEIGH, NC (AP) -- North Carolina's attorney general wants the state's highest court to reverse a decision giving Duke Energy permission to raise electricity prices by 7 percent and lock in a 10 percent profit.

Attorney General Roy Cooper said Monday that it's wrong that the state Utilities Commission allowed the nation's largest electric utility double-digit profits when families and small businesses are struggling.

Lawyers for Cooper's office will appear before the state Supreme Court on Tuesday in a case challenging Duke's rate increase.

Duke Energy says it's up to the regulator of the state's regional electric monopolies and not to the courts to decide what is fair both to consumers and the company.

The Charlotte-based company said Monday it works hard to keep costs low.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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If it works on utilities

how about trying it on insurance increase? A 30% property insurance rate increase; and the incumbent INsurance Commissioner can only announce hearings for June, 2013. And no explanation as to why there is a need for an eight month delay in the hearings?

Perhaps the AG could step in and offer some protection for the coastal property owners.

Certainly the Insurance Commissioner is missing in action.

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They only paid for Obama's convention at the tune of about $10,000,000.00 that's ten million Dollars,Obama said they were not going to take corporate funding.Oh was it not Obama's administration that O.K.'d Duke and Progress Energy to merge.So they want us pay them back for the donation to the Dem witted.