Duke Energy makes rate increase deal on NC power

CHARLOTTE -- Duke Energy has reached agreement with North Carolina's utility consumer advocate on how much to increase electricity rates in the state. The Charlotte Observer reported Wednesday the two sides won't describe the deal until final details are worked out next week. Duke Energy wanted an overall increase of nearly 13 percent for its nearly 2 million North Carolina customers. It would be the Charlotte power company's first general rate increase since 1991. The North Carolina Utilities Commission's Public Staff said that Duke deserved only an overall increase of about 5 percent. The Public Staff represents consumers. The Utilities Commission's board must approve rate increases. (Copyright 2009 by The Associated Press. All Rights Reserved.)