Duke Energy seeks hundreds of millions in increased rates to clean up their own mess:
The Company is requesting recovery of ash basin closure compliance costs incurred since January 1, 2015, in the approximate amount of $66 million per year for five years; as well as recovery of ongoing ash basin closure compliance spending in the amount of $129 million per year, with any difference from future spending being deferred until a future base rate case. Recovery of ongoing costs will mitigate the need for future rate increases for compliance costs associated with coal ash basin closure.
This rate increase is further necessary to enable DE Progress to maintain its current financial position in light of those significant capital expenditures undertaken to meet its customers' needs.
Bolding mine, because it takes a special kind of hubris to demand your "financial position" not be jeopardized, regardless of how irresponsible your business practices have been. If this was anybody but Duke Energy or some other fossil fuel giant, the Free Marketers at JLF and Civitas would be having a whole mess of kittens over the idea of such a monopoly, much less the government helping them stay profitable.
http://ift.tt/2r63Xop
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