North Carolinians are already paying higher energy bills, and now Duke Energy is seeking another rate increase that could drive costs even higher for families struggling to keep up with the rising cost of living.
As public hearings continue on Duke Energy’s proposal, Republican U.S. Senate candidate Michael Whatley has declined to take a position on whether the rate hike should be approved, despite owning between $163,000 and $445,000 worth of Duke Energy stock.
Whatley and Roy Cooper have both expressed support for a congressional stock trading ban, but Whatley has not committed to divesting his Duke Energy holdings.
Questions about Whatley’s ties to the utility company go beyond his investments. Recent reporting found that he spent more than a decade lobbying for utility companies, including Duke Energy, and arguing in favor of rate increases.
The debate comes as consumer advocates warn that Duke Energy’s proposal would further increase costs for households already stretched thin by rising utility bills. The proposal would also increase company profits even as affordability concerns continue to grow across North Carolina.
Meanwhile, former Governor Roy Cooper has opposed the proposed rate increase. According to Axios, the Cooper campaign said it does not believe Duke Energy’s rate increase request should be approved. Cooper has also pledged to support a ban on members of Congress trading individual stocks.
As North Carolinians weigh who should represent them in the U.S. Senate, Duke Energy’s latest rate hike request is drawing renewed attention to Whatley’s relationship with the utility giant. Between his years lobbying on behalf of utility companies, his substantial Duke Energy holdings, and his refusal to take a position on the company’s latest rate hike proposal, questions remain about whose interests he would prioritize in Washington.
