NC Conservation Network

Duke Energy positioning itself for coal ash-related rate increase

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Apparently profits are more important than fairness and responsibility:

Duke Energy responded sharply Wednesday to criticism from the North Carolina Attorney General’s Office and others who have questioned the utility’s opening move toward a rate increase that would help cover its coal ash cleanup costs.

The corporate attorneys told the commission in a filing late Wednesday that Duke Energy’s coal ash predicament meets the “criteria for granting a deferral,” a special accounting technique enabling it to set aside more than $700 million in accumulated coal ash costs for consideration in the upcoming rate case. “Denial of the request would adversely affect the companies’ financial stability,” they added.

That is, if you'll excuse the quaint terminology, a bleeding crock. Duke Energy has been paying a dividend to its shareholders every quarter for well over a half-century, and that dividend got a 4% bump towards the end of last year. But what's really ironic about their whining about coal ash, is how much they've invested in fracked natural gas distribution:

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