State regulators are hosting the final public hearing on Duke Energy Carolinas’ proposed rate hikes Wednesday evening in Durham. The utility says it needs higher returns to attract future investment and reduce financial risk. Not everyone agrees.
North Carolina Attorney General Jeff Jackson’s office filed testimony with the Utility Commission on Friday, challenging Duke Energy Carolinas’ proposed 15% rate increase. He said the plan would cost ratepayers nearly $1.4 billion in unnecessary charges over the next two years.
“Duke is allowed to earn a profit, but only as much as it needs to meet the growth and demand for energy,” Jackson said in a video statement. “And we think they overshot the mark.”…