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Tuesday, December 3, 2024

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Elon Musk's $50 billion Tesla pay can't be reinstated; AZ utility regulators could vote to change rule making; Report: lax oversight of OR gun dealers fuels shootings, homicides; TX business leaders form new alliance; FL's native youth: Overlooked voices call for change, inclusion.

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President-elect Trump's pick to lead the FBI says he'll eradicate the "deep state," Democrats say President Biden's pardon of his son could haunt them, and new allegations surface regarding the man Trump has tapped to lead the Pentagon.

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Residents in Colorado's rural communities face challenges to recycling, climate change and Oregon's megadrought are worrying firefighters, and a farm advocacy group says corporate greed is behind high food prices in Montana.

Duke Energy's proposed rate hike, profits under fire

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Friday, September 20, 2024   

Duke Energy is facing criticism over its proposed rate hikes of up to 16%, while delaying the retirement of its coal-fired power plants in Indiana.

The energy company, which recorded a profit of $497 million in the state in 2023, is now seeking approval for the increase, citing rising operational costs.

Robyn Skuya-Boss, director of the Hoosier Chapter of the Sierra Club, questioned the necessity of the rate hike, especially given the company's recent profits.

"That is money that is coming out of customers' pockets," Skuya-Boss pointed out. "We are really questioning, why does Duke need a rate increase now?"

Duke Energy has defended its decision, explaining the rate increase is needed to maintain and upgrade its infrastructure, as well as cover the costs of transitioning to cleaner energy sources. The company has also pointed to inflation and other economic factors driving up operational expenses.

However, the delayed closure of the coal plants has sparked further criticism from environmentalists. Skuya-Boss argued keeping the plants operational contradicts Duke's pledges to reduce carbon emissions and transition to renewable energy.

"That's an expensive choice for them to be making for customers," Skuya-Boss emphasized. "Our contention is really to see Duke Energy make the decision this year to invest in that clean energy transition."

Regulators are reviewing the requested rate increase, with the outcome potentially affecting costs for thousands of Duke Energy customers in Indiana. Both sides are making their case to the Indiana Utility Regulatory Commission, with ratepayers and advocacy groups urging the commission to carefully consider the financial implications before approving any increase.


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