As Duke Energy “exceeded analysts’ expectations” reporting “$1.58 billion in profits,” their shareholders – including DC insider and former Duke Energy lobbyist Michael Whatley – are profiting as North Carolina families see their energy bills skyrocket. 

As Duke Energy threatens further rate hikes that would make North Carolina families pay more, Whatley would see “boost[ed] profits” from the up to $445,000 he holds in Duke Energy stock. Whatley has remained silent on the rate hike – which is unsurprising given his history pushing policies that benefit his bank account.   

This all comes as Whatley is in the spotlight for spending more than a decade lobbying for utility companies, including Duke Energy, as they raised rates on North Carolina families. Whatley “la[id] the groundwork” for Duke’s record rate hikes “and other Duke-friendly legislation.” 

“As Duke Energy stockholders like Michael Whatley celebrate record profit, North Carolina families are paying the price with soaring energy bills,” said Mallory Payne, senior communications advisor for the North Carolina Democratic Party. “Now, as Duke Energy seeks an additional rate hike, Whatley is staying silent and putting his wallet above North Carolina families. Michael Whatley can’t be trusted to fight for North Carolina families.”

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