NC Utilities Commission stands by Duke rate decision
This week North Carolina energy regulators say they made the right decision when they granted Duke Energy a 7.2 percent rate hike in January 2012.
According to the Asheville Citizen-Times, the rate increase was reviewed by the commission on Wednesday after a challenged issued by Attorney General Roy Cooper.
The Utilities Commission upheld their decision and said the increase strikes a balance between investors and Duke customers.
The commission also cited the fact that Duke has agreed to give $11 million from the increase to low-income energy assistance programs.
Since the rate increase was approved, customers have paid about $7 more a month on their utility bills.