NC sets schedule for proposed energy merger


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Submitted: Tue, 06/12/2012 - 5:46pm
Updated: Tue, 06/12/2012 - 5:46pm
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RALEIGH, NC (AP) — North Carolina regulators say they will accept comments and testimony for a week about Duke Energy’s proposed takeover of Progress Energy.

The North Carolina Utilities Commission released a schedule Tuesday that lays out the timeline for input on the merger.

It is still unclear when state regulators will decide whether to permit or deny the move. The $13.7 billion merger would create the nation’s largest electric utility and service 7 million customers in the Carolinas, Florida, Indiana, Ohio and Kentucky.

The merger cleared a major hurdle Friday when it received approval from the Federal Energy Regulatory Commission.

The deal still needs the blessing of the Public Service Commission of South Carolina whose commissioners are scheduled to review it Wednesday. The companies want to close the deal by July 1.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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