State ex rel Utils. Comm’n v. Cooper

Duke Energy Carolinas (Duke) filed an application with the North Carolina Utilities Commission requesting authority to increase its North Carolina retail electric services rates and asking that the rates be established using a return on equity (ROE) of 11.5 percent. Duke subsequently stipulated to an ROE of 10.5 percent. The Commission entered a Rate Order approving the revenue increase and ROE contained in the stipulation. The Attorney General appealed. The Supreme Court reversed. On remand, the Commission concluded that the Rate Order was supported by the evidence and was reasonable in light of the stipulation as a whole. The Supreme Court affirmed, holding that the Commission’s order authorizing a 10.5 percent ROE for Duke contained sufficient findings of fact to demonstrate that the order was supported by competent, material, and substantial evidence in view of the entire record. View "State ex rel Utils. Comm'n v. Cooper" on Justia Law