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NC Justices Partly Reverse Duke Energy s $780M Rates Fight
Law360 (December 14, 2020, 11:23 PM EST) The North Carolina Utilities Commission must reconsider a proposal for Duke Energy Corp. shareholders to pay for coal ash cleanup costs, after the state s supreme court partially reversed on Friday Duke s ability to collect almost $780 million from electricity consumers.
A divided supreme court held the commission did not properly consider all factors when it denied an equitable sharing proposal from the Public Staff of the North Carolina Utilities Commission an independent agency representing utility ratepayers that intervened in the case.
The commission granted in 2018 requests by two Duke subsidiaries to include a total of $778 million in coal.
Dive Brief:
A Friday ruling from the North Carolina Supreme Court could have state regulators partially rethink who will pay for Duke Energy s cleanup, estimated by the utility to cost $8-9 billion.
Duke and its shareholders will not have to bear the full brunt of the cleanup costs, the court ruled, upholding in part regulators initial ruling that was challenged by the state s attorney general. But the court also found the commission erred in its rejection of North Carolina Public Staff s equitable sharing proposal that would split the cost of cleanup between ratepayers and shareholders and extend the timeline for paying off the costs, while not allowing the utility to profit from the cleanup.
Duke Energy issues statement in response to N C Supreme Court ruling on coal ash costs duke-energy.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from duke-energy.com Daily Mail and Mail on Sunday newspapers.
Duke Energy Corporation (via Public) / Duke Energy issues statement in response to N C Supreme Court ruling on coal ash costs publicnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from publicnow.com Daily Mail and Mail on Sunday newspapers.
/PRNewswire/ Duke Energy issued the following statement in response to today s ruling by the North Carolina Supreme Court in a case regarding a 2018 North.