Why a consumer agency dissented on the Duke increases

The state agency which advocates for the public’s interest in ratemaking and rulemaking explained why it chose not to sign off on the Duke Energy-Public Service Commission agreement that allows the utility to increase residential, commercial, and industrial power charges starting August 1.  Through its communications director, Scott Cooke, the Department of Consumers Affairs said it “engaged in good faith negotiations with all the parties in this matter, seeking to ensure only reasonable, justified costs would be recovered and Duke’s customers won’t be overcharged.”  But the DCA says it came up short.  According to its statement today, “(1) Duke was able to raise funds with its current return on equity (ROE) so an increase was not needed at this time; (2) Duke spent money on costly grid items that provide minimal benefit to residential customers; and (3) not all the coal ash costs should be paid by customers.”