Duke Energy synopsis

Gene Addesso: Hold the praise for Duke Energy - http://www.newsobserver.com/2014/05/30/3899356/gene-addesso-hold-the-praise-for.html

In response to the May 27 letter “ Confidence in Duke Energy’s commitment” by Michael Renchek, president and CEO of Areva, Inc.: I agree that “a company should be defined by its conduct over the years, how it responds and what it continues to do going forward.” But unfortunately, Duke Energy’s conduct over the years, and its response to the coal ash spill at the Dan River plant, do not engender confidence.

Duke Energy told us that its coal ash storage in N.C. complied with all laws and regulations. That was not true. Duke Energy told us that though possibly illegal, its violations were harmless. That was not true. Duke Energy told us its coal ash storage was safe, well-maintained and reliable. That was not true. Duke told us that the pipe that broke under the Dan River lagoon was made of reinforced concrete. That was not true. Duke told us that it did not have corrugated metal pipes at other coal ash sites. That was not true. The N.C. Department of Environment and Natural Resources found corrugated metal pipes at other sites.

Even after the Dan River spill was over, when we would expect a company to focus most strongly on prudent management of its coal ash, Duke Energy illegally pumped 61 million gallons of polluted coal ash wastewater into the Cape Fear River.

Now, on the basis of its conduct over the years, Duke is being investigated by a federal grand jury, has been cited by DENR for numerous violations of laws and regulations and is facing enforcement actions for violating state or federal clean water laws, or both, at every place where it stores coal ash in North Carolina.

We understand the need for reliable and affordable electricity; as a public utility Duke Energy is obligated to provide exactly those things. But Duke is also obligated to comply with the laws that protect our public waters, just like everyone else.

Until Duke Energy commits to cleaning up its leaking coal ash pits and stops putting our rivers and communities at risk, praise for Duke’s conduct and leadership on this issue is premature at best.

Gene Addesso

President, Roanoke River Basin Association, Danville, Va.

Great letter, pretty much sums up the latest from Duke Energy. 
Remember this one?  Classic!
http://www.newsobserver.com/2012/12/11/2539291/on-second-try-duke-energy-apologizes.html

Energy companies own the legislature here in North Carolina.

Duke Didn't Want to Apologize

And clearly, they didn't mean it when they did:

 "Duke had agreed to submit a public statement of penance for the way it mishandled its merger with Progress and fired CEO-to-be Bill Johnson on the day the merger was completed. Lawyers at Duke and at the Utilities Commission had agreed on a draft of the letter....

Rogers submitted his letter Tuesday. Several hours later, however, the company was forced to submit a corrected version, this time adding two key words: “we apologize.”

“This was a draft mix-up at our end – we basically submitted the wrong draft,”"

You just can't make this stuff up folks.  The North Carolina Utility Commission has  officially been walked all over, again.  And they know, and don't seem to care much:

"Public Staff Director Robert Gruber had been publicly demanding Rogers’ ouster as a moral equalizer.
Gruber said Tuesday that Rogers’ letter signals that Duke and the commission have reconciled.
“They owed the commission an apology in plain English,” said Gruber, whose agency represents the public in utility rate cases. “I’m satisfied it brings closure to the matter.”"

I'm sure the Duke authorities have learned their lesson and will never try to fool the commission, their shareholders, the legislature, and the general public again after such harsh treatment:

"As part of the settlement finalized this month, Duke will pay $30 million to benefit North Carolina customers and Rogers will retire by the end of next year. The settlement also reassigns two top Duke executives to other roles."

 Oooooooooh, $30 Million for all of us?  That's like being Duke CEO for like, 3/4 of a day or something, and we all get to share it.  Mmmmmm hmmmm, feelin' that satisfaction!

Progress ing to Higher Rates with Duke

Who could have seen this coming?  Progress Energy and Duke Energy are merging, and this is supposed to bring savings to consumers, and keep jobs in North Carolina.  Well, here we have their first new request for a rate hike since the "merger", and we already know they plan layoffs as the merger progresses.  At least there is some modernization happening, switching from coal to natural gas, for instance, but that will ultimately save the company money too.  They might quit the coal, but they're saving the shaft for us citizens/consumers of literal monopolized power.  It's time to re-think how we deal with the electric grid and the monopolies that exist in the energy industry, as a first step in a long term solution for our energy challenges. 

"He's Not a Good Fit"

 That's what she said. Ba-dump!


“Handshakes, pats on the back, congratulations all around,” Johnson said.
Minutes before the 4:30 p.m. board meeting, Rogers came to Johnson’s office and the two chatted before Rogers said, “We can’t be late for your election.”
The board met by conference call for 20 minutes and approved its new officials, with Johnson and Rogers listening in the same room.
The board then went into executive session, excusing Rogers and Johnson, who prepared to head back to Raleigh.
Several minutes later Johnson got an email from Duke’s lead director, Ann Maynard Gray, telling him to stay. During the executive session Gray introduced a motion: Johnson is not a good fit for Duke, should be removed, and replaced by Rogers, who had been Duke CEO since 2006.
Gray said she knew this would be a shock and expressed her apologies, McKee said. The five former Progress board members began enumerating Johnson’s attributes and qualifications and asked the board to reconsider, McKee said. For one hour, McKee said, Gray kept repeating: He’s not a good fit.
None of the other nine legacy Duke board members spoke.
“There were no answers,” McKee said. “It felt like a lifetime.”
The vote was 10 to 5, with the Duke members siding against the ex-Progress members."

 http://www.midtownraleighnews.com/2012/07/21/14553/johnson-duke-board-had-change.html

UPDATE:  More info and shenanigans over here.

The Biggest Balls of Them All...

...Belong to Ann Maynard Gray.
She gets nailed on the Churchill quote, but by the end she seems to be daring the commission to regulate Duke.

I thought you might be interested in this story: Duke directors: Johnson raised doubts from the outset, http://m.newsobserver.com/observer/db_111683/contentdetail.htm?contentguid=9eudnIey



Update:  Though Finley nails Gray on the Churchill quote, and they mentioned it in the N & O, but stories on Forbes and the Chicago Tribune leave out the damning retort, and act like Gray made a legitimate point.

"Gray revealed that concerns about Johnson arose the first time Duke’s corporate board met Johnson in November 2010, two months before the merger was announced.
“He did describe himself as an individual who liked to learn but not be taught,” Maynard said, who joined Duke’s board in 1997. “That comment stayed with me and I saw some reflections of that going forward.
“It was the first flag,” she said.
Finley pounced on Gray and demanded to know if Gray was aware that the comment she attributed to Johnson is a direct quote from Winston Churchill, one of the most admired leaders of the 20th century.
“No, I did not,” Gray replied softly.
Still, Gray warned the commission that the investigation will make it harder to integrate the two workforces.
“Are you implying,” Finley retorted, “that we need to bug out and get out of the way and let you get on with your business?”
Gray replied: “When it’s over it will be very constructive.”

Read more here: http://www.newsobserver.com/2012/07/21/2210285/duke-director-johnsons-controlling.html#storylink=cpy

Mo' Money, Mo' Power

Duke Energy CEO To Receive $44 Million Payout Despite Resigning On His First Day | ThinkProgress

Wow, just wow. 

Power Problems

And the Duke Energy/Progress Energy merger of monopolies is off to a roaring start. 

NC attorney general, utilities commission to investigate Duke Energy, http://m.newsobserver.com/observer/db_111683/contentdetail.htm?contentguid=qXCQzoDd

Who would have thought they were playing hardball? 

MonoMonopoly: Abuse of Power

Federal regulators approve Duke-Progress merger with minor conditions
I can't choose which company I get my power from now, yet they have found a way to give me fewer choices.  Is this capitalism?  Why on Earth would we allow 2 monopolies to become 1 even bigger monopoly?  I wonder how much power companies donate to political campaigns.  Maybe that has something to do with this.  Shouldn't we have more competition, not less?  Why aren't Tea Partiers marching in the streets over this?  Why isn't everybody against this?