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NC regulators uphold Duke Energy rate hike

RALEIGH (AP) — North Carolina regulators have upheld a 7 percent rate increase for Duke Energy customers.
The News & Observer of Raleigh reported (http://bit.ly/HdecAF) the North Carolina Utilities Commission said Wednesday it was right when it approved the increase in January 2012. The commission said it properly balanced the interests of investors and the Charlotte company’s nearly 2 million customers in western North Carolina.
Duke customers have been paying about $7 a month on average since the increase was approved.
The North Carolina Supreme Court ordered the commission to review the increase after a challenge by Attorney General Roy Cooper.
Wednesday’s decision does not affect Duke Energy Progress customers in eastern North Carolina. An increase that regulators approved for Duke Energy Progress customers also is being challenged by the attorney general’s office.

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