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NC panel hears views on Duke Energy rate increase

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WILMINGTON, NC (AP) -- North Carolina regulators are starting a series of hearings into a request by Duke Energy to raise electricity bills by almost 10 percent for nearly 2 million customers of Progress Energy Carolinas.

The North Carolina Utility Commission has scheduled hearings across the state beginning Tuesday in Wilmington. The panel meets again Wednesday evening in Rockingham. The hearings continue for the next month.

Progress Energy Carolinas wants to increase electric rates by an average of 9.7 percent, an amount estimated to raise another nearly $390 million. The company says it needs the rate increase to recover money it has already invested in new cleaner, more efficient power plants.

Duke Energy won a 7.2 percent increase last year, down from its 17 percent request.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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Four County Electric

Even if they get a 10% increase their power would still be about 20% less than four county. Be thankful you are not forced to be in a co-op who buys new vehicles every year and has an extremely high rate for power. We should be like some other states and have competition for our power source.

4county

Tell them they suck next time we have a hurricane and they are all working in dangerous environments to get your TV back on. You aren't forced to buy power through them, you can move.

You guys are missing the point

They asked for 17% last year. They got 7.2%
So they ask for 9.7% this year
What is different?
Well they now have a monopoly on power that is true.
They now have an "ex" employee sitting in the Governor's Mansion (Gulp)
And -
AND even more disheartening:
There is a Bill before the Senate that will eliminate ANY Democrats from the Utilities Commission, and allow Pat "I used to work for Duke" McCrory to staff the Commission with? Uh - can anyone say Duke supporters?
I'm surprised they only asked for 9.7% !!!!
Well, there's always next year

Vog

I'm opposed to the rate

I'm opposed to the rate increase requested. At the time of the merger Progress/Duke Energy made the following promises. What happened to them?
1> The strategic combination of companies will deliver future savings from streamlining corporate services and enabling better access to financial markets to mitigate rising electricity prices.
2> $650 million in guaranteed savings for Carolinas customers from fuel and joint dispatch.
3> Better access to financial markets for power system modernization investments will lower the total cost to customers.

Aren't you proud?

Don't complain if you voted for McCrory. His ties to Duke Power are strong and they knew they could get this if he got into office.
And the rich get richer...

I'm not complaining, and I'm

I'm not complaining, and I'm not blaming McCrory either, the blame lays squarely on the shoulders of this administration, he said he was gonna do away with coal and this is one consequence to it, increased electrical prices, not to mention his new health care bill, another increase to the power company's operating expense, not to mention gas prices on the rise, another failure of this administration to get a handle on energy cost, thus affecting every business's operating expenses, I could go on and on but you know what I am talking about, hopefully after 140 years of failure we are going to get NC headed in the right direction and then we'll try again to salvage the other when the time comes.

B M

You may have forgotten a few things when you wrote that.
For instance:
"the blame lays squarely on the shoulders of this administration, he said he was gonna do away with coal and this is one consequence to it, increased electrical prices"

Here's what Progress Energy said when the y broke ground on tis plant:
http://www.wwaytv3.com/2011/05/20/progress-energy-breaks-ground-power-pl...
"Yates says the change will not affect your energy bill."
Or when yo said this:
"not to mention gas prices on the rise"
Since Carter's days we've known that Presidents don't control energy pricing and especially gasoline pricing.

Or this:
" he said he was gonna do away with coal and this is one consequence to it,"

Funny but Progress sees this plant as a win-win from the same article I quoted before:
"The $600 million addition will run on natural gas. It will also be a combined-cycle plant, meaning it will cut carbon dioxide emissions in half and eliminate emissions of mercury and other dangerous gases."

While coal is cheap thats due in part to the collapse of the coal market. Coal for power generation is now costly due to the need for a lot of emission controls. Natural gas is plentiful, cheap and burns cleaner, as Progress said this is a win win. I'd like to convert our auto fleet to natural gas.
As for Obama Care? Health care costs are not rising as fast as they have been. Some attribute this to OCare. I'm not convinced yet. but economies of scale due lead to savings and cost containment. The VA, Medicare and Romney's Mass Care deliver healthcare at lower costs.
Progress wanted to convert Sutton to gas as it lowers costs for them.
Try to not let politics get in the way of a good business decision.

Vog

Normally I'd be raising cain

Normally I'd be raising cain about duke wanting to raise our power bills but no one is complaining about fuel prices, or corn prices, or insurance rates skyrocketing, or any of the other increases we've had forced on us for the last 4 years, right now power is a bargain, they might as well jump on the sinking ship too, most peoples cell phone bills a month top my power bill, something is going to have to give, and when it does it's not gonna be fun.

Duke Energy

We can thank the environmentalists and the Obama administration for this increase. Duke is being required to convert to natural gas from coal, and that is an expensive conversion to make. And natural gas will continue to be higher than coal as a source of energy in the future.

If my memory is correct,

If my memory is correct, when Duke Power and CP&L were in discussions to merge they promised no raises in our electric rates. I knew at the time that was a crock. They didn't waste any time once it was a signed deal.

I believe the promise

was there would be no increase in rates directly associated with the costs of the merger or any accompanying golden parachutes.

Increase

Does the rate increase go away after they recoup their investment? When pigs fly.

duke power hogs

They have got a monopoly on our power now and after convincing us
to cut down on our power use they want to raise the cost of electricity
so they can rip us off even more. With the cost of gasoline skyrocketing up and the already high elec bills one might need a second job just to pay those two bills