NC panel hears views on Duke Energy rate increase

RALEIGH, N.C. (AP) — North Carolina regulators are holding their latest hearing into a request by Duke Energy to raise electricity bills by almost 10 percent for nearly 2 million customers of Progress Energy Carolinas.

The North Carolina Utilities Commission scheduled a hearing in Raleigh on Wednesday to discuss the rate increase sought by the Duke Energy subsidiary that delivers electricity in eastern North Carolina.

Progress Energy Carolinas wants to increase electric rates by an average of 9.7 percent, an amount estimated to raise another nearly $390 million. The company says it needs the rate increase to recover money it has already invested in new cleaner, more efficient power plants.

Duke Energy won a 7.2 percent increase last year, down from its 17 percent request.