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NC Supreme Court overturns Duke Energy rate hike

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RALEIGH, NC (AP) -- North Carolina's highest court has overturned a substantial rate hike sought by Duke Energy and approved by state utilities regulators.

The North Carolina Supreme Court ruled Friday that the state Utilities Commission did not adequately consider the negative impact on consumers by allowing Duke to raise electricity rates for 1.8 million households and businesses by 7.2 percent. The commission voted in January 2012 to allow the rate increase, which would generate an extra $309 million in annual revenue for Duke.

Attorney General Roy Cooper's office argued the commission failed to balance the interests of both customers and investors in overseeing the Charlotte company, now the nation's largest electricity provider following its takeover of rival Progress Energy. The court agreed, sending the issue back to the utilities commission for further consideration.

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 This material may not be published, broadcast, rewritten or redistributed.)

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Great! But wait a minute!

Don't worry...our City Council knows this now, and will use it as leverage to raise taxes on us "again" to prevent anyone from having faith in elected officials.
Oooops! Now I've done it again with ideas for the dishonest at bay :-(

hahaha

Got a letter in the mail today from them announcing their new name..... wonder how much that cost them? Why not just send it out with the next bill. Spend frivolously and try and stick it to the consumer.

Nice to see someone finally looking out for the little guys

It's become patently obvious that the state utilities regulators are so closely in bed with the major utility companies that it's really hard to tell whose sleeping on what side of the bed anymore.

New regs really need to be put in place to seperate these two entities. No more one day a politician and the next day a utility exec and vice versa.

The little guys finally win one. Thanks NC supreme Court!

Don't thank

the supreme court, thank Attorney General Democrat Roy Cooper for his efforts to stop the rate increase. Would have been very different if one of Gov. Pat's cronies had their way.

Great

Another greedy ass corporation trying to stick it to consumers as soon as can after a merger. Fire the utilities commission who are in the pockets of Duke!

Thank you

Roy Cooper appears to be on the citizens side unlike the insurance commissioner.

You are exactly right, on

You are exactly right, on the utilities side it is easy to see where their expense's have increased, from Obamacare for their employees, to increased fuel prices for their vehicles, the president is against the coal industry, not to mention they are forced to extort us for some b/s green energy plan, so it's easy to see why their operating expenses have increased, power is still the best deal we get, most peoples gas bill and phone plans run more.

On the other hand, insurance increase's are hard to justify, used to be we bought a homeowners policy and everything was covered, now we have to buy a policy for every imageanable possibility, we had a chance to in Nov to get the NC democratic insurance commissioner out but somebody dropped the ball, the bottom line is power is a lot better deal than fuel, insurance or just about anything we use as consumers, and no, I don't even own power stock.

Yay!

Yay! It's about time the little guys won one! Now if they could only do something about CFPUA....