NC AG Roy Cooper Argues Duke Wants Too Much In Rate Increase
RALEIGH, N.C. (AP) -- North Carolina's Supreme Court hears a case that tries to roll back a 7 percent electricity rate increase for nearly 2 million Duke Energy customers.
The court hears arguments Tuesday from the country's largest electricity company, the state's utilities regulator, and Attorney General Roy Cooper's office.
Cooper is challenging the increase the North Carolina Utilities Commission approved in January that would increase the typical residential customer's bill $7 a month. It also guarantees the company a 10 percent profit.
The Supreme Court can reverse or change the commission's decision.
Duke Energy and the utilities commission's Public Staff say the impact of higher rates was considered, and the company's earlier
15 percent increase request was reduced.
Cooper wants the court to tell regulators to put more weight on consumer impact.