Duke Energy Progress agreed to pay $1.2 billion for N.C. Eastern Municipal Power Agency's generating assets in five facilities.

AP file photo

Duke Energy Progress agreed to pay $1.2 billion for N.C. Eastern Municipal Power Agency's generating assets in five facilities.

Sale of power plants raises hopes for lower electric rates

By Brie Handgraaf

Staff Writer

5 Comments | Leave a Comment

While the full extent of the local impact is yet to be determined, Rocky Mount officials were thrilled about a deal that is likely to reduce rates for the city’s 27,000 electric customers.

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Comments

Thank God.....

....for Andre and Curmilus. Had they not learned about ElectriCities in the early 2000s, we would not be at this momentous crossroad.

The figures don't quite add up. Rocky Mount makes a profit on the sale of utilities to her customers, I'm not sure what the percentage is. Rocky Mount pays 32 cent out of every dollar to pay the debt generated by Electricities. Rocky Mount claims that the utility rates are only 18.9% higher than Duke Energy. How can that be? If this is true, then Duke Energy has no debt and is actually charging 13.1% higher rates than Rocky Mount.

After the deal is done, according to my calculations, if the cost of debt remains the same, 8 cent out of every dollar will still go toward debt reduction. That is a reduction of 24 cent out of every dollar. If Rocky Mount continues to make the same profit then rates should go down by 24% at least.

Of course, I'm doubting that the figures are accurate. I'm looking for a reduction of maybe 0% at best because Rocky Mount will need the difference to finance her civic center.

More misleading info from one of Rocky Mount

regular commenters.

Damn can't wait until the deal is done and every thing is put on the table.

But then had to mention the Event Center!

They just won't quit with all of their ignant comments but they will be alright!

You need to.....

.....learn to appreciate sarcasm. You could also learn words other than cuss words. Thank you for caring.

Sarcasm? I don't play

when it comes to politics when folks are making decisions pertaining to people's lives.

I am a grown a... man and I say and do grown man stuff. I found out a long time ago that some folks don't get it unless you say and write things a certain way. So if you have a problem with how I say and write stuff then go figure. However it works for me because when you and others respond in such a way, it let's me know ya'll gets my message.

Even in spite of my personal issues I face from time to time I still love people even those who don't appreciate it. You see it ain't about them but all about what I feel is my purpose for being, my calling. And that is to be a voice for the voiceless while being called everything except a child of God! That is my motivation! And with the election of a black President not one time but 2 times, don't help me as I speak truth to power because some folks just can't deal with a strong black man being in charge or speaking out on issues.

Now Run & Tell That!

Been a long time coming

I remember when the Northeastern NC Committee on the Affairs of Black People which consisted of Carol Batchelor, Lewis Turner, Andre Knight, myself and a few others had a community meeting about the utilities at Truth Tabernacle back in 1999 or early 2000’s. This is when we found out about there was such a thing called ElectriCities. The fight began at that time to do something about the high utility rates.

Andre Knight went on to become a Rocky Mount City Councilman and also began serving on NCEMPA Board North Carolina Eastern Municipal Power Agency after former Rocky Mount City Councilwoman and former NCEMPA board member Angela Bryant moved on to become a House of Representative now a current Senator.

Knight played a strong role in challenging ElectriCities to do something about the high utilities in the 32 cities. Rocky Mount lead a lawsuit and a couple of cities started out with them but eventually backed out. Rocky Mount Councilman and NCEMPA board member Andre Knight was responsible for stopping former Tarboro Town Manager Sam Nobles from receiving $1500 a month to chair the NCEMPA board meetings while the other board members received nothing but a free meal from Parkers if they chose to go there after the meetings held in Wilson.

Don’t want to leave out that we also played a role in the Common Ground meetings under the direction of now Councilwoman Chris Miller leadership as there were several meetings held about utilities.

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