You’ve probably read that Duke Energy is requesting a 17.4% rate hike for residential customers and a 14% rate hike for businesses to pay for its new nuclear and coal plants. This comes after an 8% increase last year. All the while, Duke’s profits for 2010 were $1.3 million, up 23% from 2009 and CEO Jim Rogers made $8.8 million.
If approved, this rate hike will cost the average residential household an extra $200/year. It’s time for consumers to speak out against the rate hikes and demand a new path for Duke Energy. Read more