The CEO of ElectriCities, who was interviewed in our stories last week about customers complaining about high utility bills, is blogging about our reports.
Graham Edwards writes, "There's no question that many people across eastern North Carolina are frustrated with the high cost of electricity. That frustration was evident in a story that aired last night on WITN, an NBC station that covers the Washington, Greenville and New Bern markets."
Those high bills are largely associated with the 2.4 billion dollar debt the NC Eastern Municipal Power Agency, managed by Electricities, continues to pay for buying into nuclear facilities decades ago.
Edwards goes on to says, "NCEMPA" has reduced the debt by more than $1 billion since 1993, but the cities remain obligated to repay $2.4 billion over the next 15 years. Until that debt is paid, there's no silver bullet that can magically reduce electric rates - a point that even Gov. Perdue acknowledged at the end of yesterday's broadcast."
You can read more about what Edwards blogged about our reports by clicking in the link following this story.
Tuesday night at 6:00 we'll continue our reports about the high bills and what some in Raleigh want to do.