Duke Energy is hoping to fleece ratepayers, but the AG's office is watching:
The coal ash costs that Duke Energy seeks to recover are out-of-the-ordinary and very concerning because they may result in large rate increases for consumers. There are important questions that need to be addressed regarding whether all of the costs that Duke Energy seeks to recover were reasonably and prudentially incurred. It would not be appropriate to make important, binding, substantive determinations regarding recovery of these costs in a procedural, accounting-related docket. The Commission should ensure that all of the issues regarding coal ash cost recovery will not be resolved or prejudged until there is a complete evidentiary record in the upcoming rate cases.
Just to bring you up to speed: After the dam failure that allowed a massive amount of toxic coal ash into the Dan River, Duke Energy's other coal ash impoundments have fallen under close scrutiny, and a number of them have been designated for removal and relocation of the ash to a safer storage place. Duke Energy has estimated these various projects could end up costing as much as ten billion, although many experts say that is wildly inflated. The bottom line is, Duke wants to recoup as much of that cost as it can from customers, shielding its stockholders from shouldering the burden. The Attorney General feels otherwise: