The number immediately jumped out to Jim Hoard: $9 million. That’s the amount Progress Energy expects to save within its first year of the merger with Duke Energy, according to the rate increase request Progress filed this month. The savings would come from streamlined operations and staff cuts that will eliminate 1,860 positions over three years.
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Why it matters: Global warming – The Associated Press
People love to talk about the weather, especially when it’s strange like the mercifully ended summer of 2012. This year the nation’s weather has been hotter and more extreme than ever, federal records show. Yet there are two people who aren’t talking about it, and they both happen to be running for president.
Medical Advocates for Healthy Air
Did Progress include $100s of millions in improper annual expenses in today’s rate hike request – as parent Duke Energy did in 2009 and 2011? – News Release from NC WARN
Progress Energy requests 14% rate increase for residential customers – The News & Observer
Progress Energy to seek first rate increase in a quarter century – The News & Observer
Duke’s Report on Costly Repair of Florida Nuclear Plant Reinforces NC WARN’s Call to Reopen Merger Hearings – News Release from NC WARN
Tuesday’s revelation that repair of the broken Crystal River nuclear plant will cost up to $3.4 billion – far higher than Progress Energy had claimed during its merger with Duke Energy – comes as little surprise. The riveting question now for the NC Utilities Commission is: Did Duke know this before the merger closed on July 2, but withhold it because its impacts on NC ratepayers could derail the merger?
See Zapata Engineering’s review summary
Has Duke Energy Been Cheating on Rate Hikes? – News Release from NC WARN
Controversial rate hikes by Duke Energy Carolinas in 2009 and 2011 revealed a pattern of activity apparently designed to overcharge North Carolina electricity customers millions of dollars annually, energy watchdog group NC WARN said today. The group said Duke is either deliberately attempting to gouge ratepayers or suffers gross incompetence across its legal and accounting departments. It urged Attorney General Roy Cooper to take action.
See NC WARN’s letter to Attorney General Cooper and Public Staff’s Robert Gruber
Duke Energy Plans 20 Years of Rate Hikes, Climate Destruction, Risky Nukes – and Almost No Solar, Wind and Energy Savings – News Release from NC WARN
As Duke Energy continues its six-year PR campaign touting CEO Jim Rogers’ concerns about climate change and North Carolina’s economic health, long-range plans filed this month with state regulators contradict his professions. The plans reflect serial rate hikes to pay for an aggressive expansion of generating plants, and high carbon emissions for the next two decades.