The decision to grant Duke Energy a seven percent increase in power bills during tough economic times is wrong for North Carolina consumers and businesses, Attorney General Roy Cooper said Tuesday. Cooper filed today to appeal the Duke Energy rate hike approved earlier this year by the North Carolina Utilities Commission.
“The economic realities faced by North Carolina consumers must be put before company profits,” Cooper said. “Hundreds of people have contacted my office to let us know they can’t afford to pay much more for electricity in these tough times.”
The appeal focuses not on whether Duke Energy should be allowed to recover its investments, but on whether it should be allowed to raise customers’ rates in order to make a 10.5 percent shareholder profit in this challenging economic climate.