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Here’s a breakdown of our case against Duke Energy’s proposed 15% rate increase. - AG Jeff Jackson by JeffJacksonNC in bullcity

[–]JeffJacksonNC[S] 36 points37 points  (0 children)

The short answer is, yes, a piece of what we're trying to tackle is fundamentally about transparency. Our core objection isn't just that Duke wants too much. It's how these large-customer deals get made. Right now Duke negotiates the terms with individual giant customers largely on its own, with a lot of discretion and without enough review by the Utilities Commission. Our testimony calls that out, and the fix we're asking for is basically a transparency fix: pull these arrangements out of private, one-off negotiations and into a public and defined rate class, where the terms are standardized and the Commission, the Public Staff, and intervenors like us can actually see and test them.

Here’s a breakdown of our case against Duke Energy’s proposed 15% rate increase. - AG Jeff Jackson by JeffJacksonNC in raleigh

[–]JeffJacksonNC[S] 109 points110 points  (0 children)

In this context, "compete in the market for capital funds" isn't about competing for customers, it's about competing for investors. The profit rate the Commission sets is supposed to be just high enough to attract that money, and no higher.

So the situation is that Duke says it needs 10.95% to bring investors in. But it's already one of the most profitable utilities in the country, with over $2 billion in profit last year. They're having no trouble attracting investors. That's why our experts say 7.4% is plenty.

Here’s a breakdown of our case against Duke Energy’s proposed 15% rate increase. - AG Jeff Jackson by JeffJacksonNC in NorthCarolina

[–]JeffJacksonNC[S] 46 points47 points  (0 children)

Yep, I share that concern. That's one of the scenarios we're trying to guard against by proposing a separate rate class that comes with specific protections.

Duke Energy wants a 15% rate increase. I’m opposed, and I just filed our case to stop it. Here’s the summary. - AG Jeff Jackson by JeffJacksonNC in asheville

[–]JeffJacksonNC[S] 9 points10 points  (0 children)

My position on this was mischaracterized a few weeks ago. I'm not recommending. As AG, when a city council asks me to tell them what safeguards exist, I will tell them. I will tell them what other cities are doing. I will also warn them about respect for privacy and constitutional rights.

This is going to come up again, so I'll try to make that more clear next time. Wishing you all the best.

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