Duke CEO meets with investors in NY
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CHARLOTTE -- Duke Energy CEO Jim Rogers says the company is making good progress on the "to do" list he's made for the utility. Rogers and other top executives are meeting with investors in New York Thursday.
Rogers says the company is clearing up regulatory approvals, legal hurdles and financial burdens. That includes the decision to abandon multi-billion-dollar repairs of a troubled nuclear reactor in Florida.
At Thursday's investor meeting, the company predicted between 4 percent and 6 percent earnings growth in each of the next three years. But Rogers says the shaky economy and rising cost of doing business still matter to Duke's bottom line.
"Given the cost pressures and low, low growth that I talked about a few moments ago in our sector, excelling in the fundamentals is more important now than ever before," he said.
Duke is the nation's largest electric utility and Rogers says the company will continue to invest in its infrastructure, spending as much as $6 billion on capital expenses this year alone.
In North Carolina, Duke Energy is asking state regulators to approve a 9.7 percent rate hike.
critics say the company is more focused on its profits...than on its customers or the environment.