Dive Summary:
- The North Carolina Supreme Court Tuesday heard arguments from Duke Energy, regulators and Attorney General Roy Cooper's office, which questioned evidence regarding the North Carolina Utilities Commission's analysis of Duke Energy's 7.2% rate hike.
- Kevin Anderson, the head of the AG office's consumer protection division, told the seven justices on the court that consumer interests and shareholder interests were not being weighed equally.
- The court has the power to reverse regulators' January decision to approve the rate increase.
From the article:
"... State Attorney General Roy Cooper's office argued that there's little evidence the North Carolina Utilities Commission independently analyzed the consumer impact of allowing Duke Energy to raise electricity rates for its 1.8 million customers by 7.2 percent. The commission is responsible for balancing the interests of both customers and investors in what are regional monopolies, while ensuring the companies are healthy enough to maintain a system of constant electricity supply. ..."
