RALEIGH, N.C. _ Protesters decried Duke Energy's continued reliance on fossil fuels and its political influence as Duke went before the North Carolina Utilities Commission for approval of its $4.9 billion acquisition of Piedmont Natural Gas.
Several speakers at the hearing Monday said a larger Duke Energy will only enlarge what they call an already outsized political influence.
"The bigger they get, the more overwhelming their power will be," said Charlotte resident Beth Henry.
Henry asserted that Duke already uses its charitable donations to squelch critics. Duke would make $70 million in contributions over four years under terms of a settlement agreement with consumer advocates in the Piedmont case.
"That purported benefit just amounts to silencing the opposition as money is handed out," Henry said.
Duke and Piedmont say their combination will benefit customers in ways beyond the charitable donations. Neither electric nor gas rates will go up as a result of the acquisition, they say, and Piedmont will slice $10 million from the bills of N.C. customers.
The larger financial clout of the combined companies, they say, will let it borrow money for capital projects at more favorable rates, saving money for customers.
Another speaker at the hearing, Dr. Richard Fireman, accused the independent Public Staff of failing the utility customers it advocates for by not examining the risks of burning fossil fuel on climate change. Fireman help copies of studies showing North Carolina's coast at risk from rising sea levels.
The risk to future generations, he said, "will be Biblical in scope."
The chief executives of Duke and Piedmont, Lynn Good and Thomas Skains, are scheduled to testify Monday or Tuesday and will be cross-examined by lawyers for environmental advocates. Advocates are expected to probe them on the impacts of fossil fuels on climate change and the sustainability of building more gas-fired power plants.
