The News & Observer reports Duke Energy has submitted a request to the North Carolina Utilities Commission for a 13.5 percent rate increase. From the story (emphasis is mine):
Duke said growing capital expenses make the increases necessary. Those include the costs of installing pollution controls at two plants and financing its Cliffside plant.
Duke also cited the coming expense of modernizing its system and meeting an expected cap on greenhouse gas emissions.
“The relative cost of electricity when adjusted for inflation has gone down” since 1991, said Duke Energy Carolinas president Brett Carter. “There’s been a lot of growth in the system … and this is an adjustment that’s necessary to maintain reliable, clean and low-cost energy.”
You’ll find some sombering facts about the economics of climate change legislation here.