Feds reject NC group's claim that Duke Energy wastes money

 Feds reject NC group's claim that Duke Energy wastes money

RALEIGH, N.C. (AP) - Federal regulators have rejected a bid by North Carolina renewable energy advocates to pressure Duke Energy (NYSE: DUK) to buy power from other electric companies in the Southeast and in so doing build fewer costly power plants.

The Federal Energy Regulatory Commission decided this week that the group NC WARN failed to show that construction by the country's largest electric company resulted in "unjust and unreasonable" energy rates.

The commission also said it won't require Duke Energy to buy excess electricity from neighboring utilities. NC WARN claimed that would allow the Charlotte-based utility to avoid building new power plants and passing along the cost on to consumers.

The commission also rejected the advocacy group's request to push Duke Energy to cooperate more in regional power production.

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