Duke/Progress Energy

Jim Rogers threatens to leave NC

This ain't helpin' your image, pal:

Rogers repeatedly assured investors he expects N.C. Utilities Commission members to treat Duke fairly in rate cases and other issues despite current anger over Duke's surprise decision to oust Bill Johnson as CEO. And he said if Duke cannot get proper regulator treatment, “we might not be headquartered in North Carolina in the near future.”

"Fair treatment" is a subjective and relative activity, Jimbo. When a convicted felon is released from prison, his activities are both limited and monitored. By the same token, when a businessman takes a step that calls his integrity into question, he should expect closer scrutiny in the future. It may not seem fair, but it is.

Crippled by CWIP: The fleecing of ratepayers

Shouldering the financial burden for new nuke plants:

Due to controversial state legislation in 2007, the utilities can already force consumers to pre-pay for new plants. But Duke and Progress executives have signaled to key lawmakers and reporters that they still cannot attempt nuclear projects without additional legislation. It appears they want an automatic pass-through of rate increases without having to justify them in traditional legal proceedings before the state Utilities Commission.

Note to the new leadership in the GA: After all your rhetoric about easing the tax burden on citizens, if you help the utilities pick billions out of our pockets to finance something no bank would touch with a ten foot pole, you can kiss that majority goodbye.

Syndicate content