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STATE EX REL. UTILITIES COM'N v. DUKE POWER CO.

No. 72.

206 S.E.2d 269 (1974)

285 N.C. 377

STATE of North Carolina ex rel. UTILITIES COMMISSION et al. v. DUKE POWER COMPANY.

Supreme Court of North Carolina.

July 1, 1974.

Attorney(s) appearing for the Case

Robert Morgan, Atty. Gen., I. Beverly Lake, Jr., Deputy Atty. Gen., and Robert P. Gruber, Asst. Atty. Gen., Raleigh, for the using and Consuming Public.

Edward B. Hipp, Commission Atty., and John R. Molm, Associate Commission Atty., Raleigh, for N. C. Utilities Commission.

William H. Grigg, Steve C. Griffith, Jr., Clarence W. Walker, John M. Murchison, Jr., Charlotte, for Duke Power Co.

Byrd, Byrd, Ervin & Blanton, Morganton, for Great Lakes Carbon Corp.

Claude V. Jones, City Atty., Durham, for the City of Durham, Intervenor.

LAKE, Justice.

The steps to be taken by the Utilities Commission in fixing rates to be charged by any public utility for its services are set forth in G.S. § 62-133(b), which provides:

"(b) In fixing such rates, the Commission shall: "(1) Ascertain the fair value of the public utility's property used and useful in providing the service rendered to the public within this State, considering the reasonable original cost of the property less that...

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