Duke Energy responds to N.C. Supreme Court ruling on rate increase
CHARLOTTE, N.C., April 12, 2013
CHARLOTTE, N.C., April 12, 2013 /PRNewswire/ --Paul Newton, president of Duke
Energy North Carolina, issued the following statement in response to today's
North Carolina Supreme Court ruling regarding a Duke Energy rate increase that
was approved by the North Carolina Utilities Commission on Jan. 27, 2012 and
that took effect on Feb. 1, 2012:
"Duke Energy obtained the Supreme Court order earlier this afternoon and our
legal and regulatory teams are reviewing the court's decision. It is important
to note that the order is limited to the Commission's consideration of the
'proper' Return on Equity. It does not require any changes to the current
rates and rate structure approved by the Commission last year.We will
continue to monitor the situation and provide any information required by the
Commission or others.
"We continue to believe that the settlement agreement approved by the
Commission authorizing a 10.5 percent ROE is fair and well-reasoned. We have
no reason to believe that it will not ultimately be upheld."
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas and hydroelectric
generation. That diverse fuel mix provides approximately 20,000 megawatts of
owned electric capacity to approximately 2.4 million customers in a
24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK)is a Fortune 250
company traded on the New York Stock Exchange under the symbol DUK. More
information about the company is available at: www.duke-energy.com.
Media Contact: Jeff Brooks
Office: 919.546.4710 | 24-Hour: 800.559.3853
Analysts Contact: Bill Currens
Analysts Contact: Bob Drennan
SOURCE Duke Energy
Press spacebar to pause and continue. Press esc to stop.