by Mitch Kokai
Senior Political Analyst, John Locke Foundation
The N.C. Supreme Court threw out today the N.C. Utilities Commission’s decision in 2012 to grant Dominion North Carolina Power a 10.2 percent return-on-equity increase. ROE is a major component in determining regulated utility companies’ rates. Attorney General Roy Cooper had challenged the rate hike in court. While siding with Cooper on the ROE issue, the state’s highest court ruled in favor of the Utilities Commission in a rate-related appeal from Nucor, which uses more than 20 percent of the electricity Dominion sells in North Carolina.
Among other opinions released today from the N.C. Supreme Court: