AG Urges NC High Court To Overturn $179M Duke Rate Hike

Law360, New York (July 2, 2013, 5:28 PM EDT) -- North Carolina Attorney General Roy Cooper has filed a petition urging the state's highest court to overturn a $179 million electricity rate hike granted to a Duke Energy Corp. unit by a state regulator, he announced Monday.

According to Cooper, the North Carolina Utilities Commission's May decision allowing Duke Energy Progress to up its power rates by an average of 7.5 percent had not been justified by Progress' evidence in its case before the regulator, especially given that many people in the state were currently "struggling...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.