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South Carolina Gives Duke Power 30 Days to Explain Its Profit Rate.

By Stan Choe, The Charlotte Observer, N.C. Knight Ridder/Tribune Business News

Jul. 16--Duke Power has a month to explain to S.C. regulators why it has made so much money recently.

As a regulated utility, Duke is supposed to stay under a certain profit rate, but it was $41 million over the target for the 12 months leading to March 31, regulators say.

The S.C. Public Service Commission's executive director, Gary Walsh, faxed and mailed a letter to Duke Tuesday, giving the utility 30 days to explain why it was so far over its target. Walsh also

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