Tag: NC Utilities Commission

Weak Conditions Offered on Duke-Progress Merger

November 30, 2012 at 9:05 amCategory:Uncategorized

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The closed-door decision by the NC Utilities Commission (NCUC) and the Public Staff to end its investigation into the Duke-Progress merger in exchange for a handful of restrained conditions is another missed opportunity by state regulators to protect NC consumers.

The Commission must vote on the proposal on Monday which includes conditions such as shuffling of staff and board members, concretizing Jim Rogers’ already planned 2013 retirement and throwing a few bones to consumers and low-income customers. It’s mind-boggling to think how little has come from the merger investigation. Read More…

Documents indicate Duke hid info from Utilities Commission

November 27, 2012 at 12:03 pmCategory:Uncategorized

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The following was released this morning by the good people at NC WARN:

Internal Document Indicates Duke Energy Hid Damning News on Broken Nuclear Plant before Merger with Progress Energy was Approved
Johnson memo to his board members strongly suggests Duke misled regulators in various states; NC WARN says this bolsters legal case to reopen merger hearings

Durham, NC – An April memo from ousted CEO Bill Johnson appears to confirm long-running concerns by a watchdog group that Duke Energy hid vital information from regulators in several states prior to the July closing of the utility’s controversial takeover of Progress Energy. NC WARN today filed the document with the NC Utilities Commission in support of the group’s case that merger hearings must be reopened to determine if billions of dollars in hidden costs offset the very savings to the public that are required of such a utility merger.

Read the entire release by clicking here.

NC gets a little taste of the modern robber baron economy

July 6, 2012 at 9:55 amCategory:Uncategorized

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There are at least a couple of thoughts that occur this morning in wake of the latest news about Duke Energy’s acquisition of (sorry, merger with) Progress Energy (née CP&L):

#1 – While some in the mainstream news media (and the Utilities Commission Public Staff) seem surprised that former progress chief Bill Johnson (right) has now been muscled out of the way and given a platinum parachute by the big Monopoly game winner Jim Rogers (left), my first reaction was: How could you not see this coming? Fat cat, empire-building CEO’s like Rogers are not about sharing power; they’re about winning it and grabbing more. The bottom line here is that Rogers came to this game with more weapons and almost certainly always intended to emerge “victorious.” All the public talk about cooperation and merger were almost certainly p.r. bull.

#2- And as for Johnson, Read More…

AG appeals Duke rate hike – says profit gain unjust

March 29, 2012 at 9:00 amCategory:Uncategorized

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NC Attorney General Roy Cooper appealed the Duke Energy electric rate hike Wednesday, arguing the company should not raise customer rates to gain a 10.5% profit for its shareholders. This is Duke’s second increase since 2009 and another is anticipated this year. Read More…

Groups Challenge Proposed Duke Energy Rate Hike Settlement

January 12, 2012 at 1:52 pmCategory:Uncategorized

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This week the NC Justice Center, NC WARN and the NC Housing Coalition challenged the proposed Duke Energy rate hike settlement that the NC Utilities Commission Public Staff is supporting. The organizations are highlighting how unfair the proposal for a 7.21% rate increase is to residential and most business customers, because the rate allocation method is biased to accommodate energy hogging industries.

Energy Hog

These energy hogs – such as Facebook and Google data centers – are already being subsidized by various tax breaks and incentives offered by the state, creating few jobs and benefiting from Duke’s biased rate allocation method.

The organizations also raised concerns about discriminatory practices regarding residential late payment charges and shut off notices, noting how these practices disproportionately impact low-income customers.

The NC Utilities Commission needs to require Duke Energy to develop a rate allocation method that reflects the new demand brought on by the energy hogs, reflecting the need for peak, intermediate and base load capacity through the year. This issue will also become important to Progress Energy customers if the Duke-Progress merger is approved because Progress uses a different, more fair rate allocation, and how the two will be resolved remains to be seen.