Dive Brief:

• The North Carolina Public Utilities Commission this week upheld Duke Energy's 7.1% rate increase from 2012. The state Supreme Court forced regulators to review the rate hike after agreeing with state Attorney General Roy Cooper's argument that the commission did not fully consider the economic implications.
• Duke had initially sought a 15% rate increase. The approved increase, which will bring in $309 million annually, is needed to help build new power plants and pay for general operating expenses, Duke said.
• Cooper indicated he planned to appeal the latest approval, calling it "window dressing."

Dive Insight: 

The just-decided Duke rate case began 21 months ago. The North Carolina Utilities Commission said it made "the ability of consumers to pay a consideration of paramount importance." But it also said that investors in the utility need a fair return, without which the utility's borrowing costs could rise. Attorney General Roy Cooper is now appealing four utility rate cases, including Duke Energy 2012 and 2013 rate increases.