NC WARN alleges Duke Energy Carolinas wants to charge customers for $22 million worth of spending that the watchdog group contends ought to be paid by shareholders and should not be included in the utility’s rates.
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Duke Energy’s profit margin is questioned — Charlotte Observer
Attorney General Roy Cooper’s staff spent much of a Tuesday hearing probing the profit margin for investors built into Duke Energy Carolinas’ request for a 5.1 percent rate hike. The return on common equity, or ROE, is a critical component of the case before the North Carolina Utilities Commission. By agreeing to pare its initial 11.25 percent request to 10.2 percent, Duke gave up $112 million in new revenue. But Assistant Attorney General Margaret Force wanted to know how Duke and the commission’s Public Staff, which represents consumers, arrived at that number. The short answer: It’s complicated and, in large part, subjective.
Duke Energy faces accusations of overcharging customers — WNCN
Evidentiary hearings began Monday afternoon at the N.C. Utilities Commission, which heard evidence from supporters and opponents of Duke Energy’s proposed $200 million rate increase. Questioning in day two of the hearing has primarily focused on how much money Duke Energy Carolinas will earn with the company’s proposed return on equity, a measure of profit.
As regulators hear Duke rate case, advocacy groups cite corporate greed — News & Observer
By John Murawski Advocacy groups made their last-minute public appeal Monday to block Duke Energy’s third rate increase request in the past four years, as rate hearings got underway in Raleigh before the N.C. Utilities Commission. NC WARN, AARP, Greenpeace and others staged a rally outside the state office building …
Duke cites errors in rate filing — Charlotte Observer
By Bruce Henderson RALEIGH — Duke Energy’s North Carolina president on Monday acknowledged the company made errors in charges that it tried to pass on to customers, including $326,000 in political contributions. Paul Newton was the first witness Monday in a hearing in Duke’s rate case before the North Carolina …
Duke Energy’s Corporate Incompetence – or Fraud? — News Release from NC WARN
NC WARN charged today that either Duke Energy’s accountants are grossly incompetent or the corporation has deliberately sought to improperly charge North Carolina customers hundreds of millions of dollars each year. NC WARN will press the NC Utilities Commission to penalize Duke millions of dollars for the attempted overcharges. The group will also call on the Commission to order its Public Staff not to secretly negotiate deals in future utility cases.
News coverage of the hearings:
Regulators Begin Hearings On Duke Rate Increase, WFAE
As regulators hear Duke rate case, advocacy groups cite corporate greed, News & Observer
2 from WNCN:
Duke Energy admits to more mistakes in rate hike case
Duke Energy faces accusations of overcharging customers
4 from the Charlotte Business Journal:
Group frustrated as Duke Energy rate hike hearing ends
Four agendas at play in Duke Energy’s NC rate hearing
Duke Energy witnesses defend propriety of most customer charges
NC WARN: Duke Energy should pay penalty for improper charges
4 from the Charlotte Observer:
Duke Energy defends rate charges, settlement
Duke Energy critic disputes rate charges
Duke Energy’s profit margin is questioned
Duke cites errors in rate filing
Regulators Begin Hearings On Duke Rate Increase — WFAE
Regulatory hearings begin Monday afternoon at the North Carolina Utilities Commission in Raleigh for Duke Energy’s latest request for a rate increase… Turns out Duke included millions of dollars worth of expenses … that it’s not allowed to force on customers… NC Utilities Commission’s Public Staff says Duke included those items in “error.” Environmental watchdog group NC WARN will argue during this week’s hearing that it was either incompetence on Duke’s part – or outright fraud.
Final public hearing on Duke Energy rate hike held — WTVD
The public got a last chance to sound off on a deal that will allow a Duke Energy subsidiary to raise power rates Tuesday evening in Hillsborough. A little more than two dozen demonstrators didn’t let a dreary drizzle dampen their message. They held signs and chanted against the rate increase. They called a proposed rate-hike audacious at best and greedy and environmentally harmful at worst.
Protesters take on Duke Energy — Charlotte Observer
Slide show of protesters outside public hearing on Duke Energy’s rate hike at the Mecklenburg County Courthouse Wednesday June 26, 2013. Greenpeace, AARP, Consumers Against Rate Hikes, and NC WARN protesters were there.
Burning the Public: Duke Energy’s Rate Secrets – Part 4 — News Release from NC WARN
Duke Energy is seeking to charge North Carolina customers up to $120 million a year to pay for laid-off employees, vacant offices and other phantom expenses. A proposed settlement in the rate case does not remedy this blatant overcharging, so NC WARN will call on state regulators to reject it when evidentiary hearings begin on July 8.