AG Roy Cooper slams Duke Energy over rate increases

Putting shareholders ahead of of ratepayers:

“People are already struggling to pay their bills and utilities want to raise rates yet again,” Cooper in a statement. “We’ll continue to fight these increases that fail to adequately take consumers into account.” He cited an analysis by Moody’s that shows that North Carolinians pay a higher percentage of their household disposable income for electricity than residents of all but six other states. He also questioned whether Duke shareholders should be entitled to a 10.2 return on investment on the backs of consumers, many of whom are still struggling in an uneven economy.

Considering the makeup of the new NCUC, this vocal opposition is critical in not only opposing rate increases, but also making sure the public is aware of the issue.

Comments

Duke Energy is a government sanctioned monopoly -- why?

Duke Energy exists as a monopoly only because we as NC citizens allow it.

There should be no such thing as "shareholder dividends" when this government sanctioned monopoly is buying other companies.

Duke Energy should be broken up.

 

Agreed

Turn them all into local co-op distribution grids and generation plants. My local co-op functions quite well, and from what I can tell, honestly.

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"...the question is not whether we will be extremists, but what kind of extremists we will be."

Martin Luther King, Jr., Letter from Birmingham Jail