Critical
North Carolina Lawyers Weekly
North Carolina Attorney General Jeff Jackson has declined to endorse Duke Energy's proposed rate settlement, citing the 9.5% residential rate hike as too burdensome for consumers. While the settlement includes shareholder contributions to bill assistance and a lower return on equity, Jackson argues these measures are insufficient. His office may pursue further action to reduce rates.
Duke Energy's initial 18% rate hike proposal faced strong opposition, prompting reductions to 11.6% and now 9.5%. However, the attorney general's stance underscores persistent tensions between utility earnings and consumer affordability.
Why it matters: Regulatory resistance in North Carolina could set a precedent for future rate cases, affecting Duke Energy's financial planning and competitive dynamics in this critical region.