NC AG fights Duke Energy Progress' rate hike

In a recent development, Attorney General Jeff Jackson is contesting Duke Energy Progress' proposal for a substantial electric rate increase of approximately 15%. Jackson's office filed testimony arguing that while the company needs to make investments, they should do so while charging customers less. He believes that the company's requested profit margins are excessive and has urged regulators to reduce Duke's allowed return on equity. According to Jackson's experts, this adjustment could save customers nearly $960 million over the next two years