Senate Bill 559, approved by the Senate, is awaiting approval in the state House, where it is sitting in committee. The bill, which Duke Energy heavily lobbied for, consists of two parts — the first related to storm recovery funding and the second, more controversial part related to expanding rate-setting options.
Senate Bill 559 (and companion House Bill 624) could allow electric monopolies to gouge customers for billions in bogus charges and get a single regulatory approval for five-year blocks of annual rate increases – all with even less public and regulatory oversight than exists under the current system. Every stakeholder group opposes the bill – business big and small, consumer, clean energy and environmental justice groups. Only Duke and its political cronies are promoting it.
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The Energy Justice North Carolina Coalition released a report today detailing the influence of Duke Energy’s campaign contributions on state legislators’ support for Duke-sponsored bills together with a new, interactive web tool that tracks political contributions from electric monopolies like Duke.
Duke is making a lot of noise in its attempt to divert attention from the massive cost exposure potential related to the alternative rate mechanism proposal by focusing attention on the securitization section of SB559. Parkdale’s opposition is with Duke’s proposed multi-year ratemaking and return-on-equity banding, which will result in enormous rate hikes on all North Carolinians and businesses.
Letter to the Editor by Jim Warren. Duke Energy’s Senate Bill 559 is indeed a Trojan Horse (oped June 1). The bill – which could be worth tens of billions for Duke – is as lousy as the deceptive process pushing it forward.
Duke Energy is pushing a Trojan horse – which, while disguised as legislation to give state regulators more flexibility, would permit Duke to earn excessive profits at customers’ expense without the comprehensive scrutiny it currently receives from regulators.
Key provisions to extend the period of time between utility company rate cases are embedded within N.C. Senate Bill 559, being debated at the N.C. General Assembly. Similar provisions hurt Virginia customers, and will hurt North Carolina customers, too.
By John Downey NC WARN has filed an ethics complaint against Sen. Dan Blue, D-Wake, contending there is a conflict of interest between his sponsorship of legislation about utility regulation and his law firm’s work for the Atlantic Coast Pipeline. The complaint, filed Wednesday morning with the N.C. Ethics Commission, raises …
A climate change group known for taking on Duke Energy filed an ethics complaint against Senate Minority Leader Dan Blue on Wednesday, suggesting that his support of key legislation for the company is tied to work his family law firm does for the Duke’s planned natural gas pipeline.
[NC WARN] says Blue, a Wake County Democrat and the Senate minority leader, has a glaring conflict of interest. He is the lead sponsor of legislation, Senate Bill 559, that would change the state’s utility commission’s rate-setting structure even as Blue’s law firm — which includes his two sons — is representing a holding company tied to Duke Energy in eminent domain cases related to the Atlantic Coast Pipeline.
A clean-energy advocacy group wants an investigation into whether a longtime North Carolina legislator violated ethics laws by pushing legislation sought by Duke Energy Corp. while his law firm did legal work for a gas pipeline project.