make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

NC officials get details on Duke-Progress deal

READ MORE:

RALEIGH, N.C. (AP) - The financial combination of Duke Energy and Progress Energy won't lead to too many changes for their North Carolina customers and regulators.

Representatives for Charlotte-based Duke and Raleigh-based Progress gave a presentation Monday to the North Carolina Utililties Commission soon after the companies announced Duke was buying Progress for more than $13 billion in stock. Fifty-four percent of the combined utility's 7 million customers are in North and South Carolina.

Progress Energy attorney John McArthur says Progress and Duke will still apply separately to the commission for electric rate changes. McArthur says Progress customers still will see the Progress name on their bills for the immediate future.

The combined company will be headquartered in Charlotte but keep significant operations in Raleigh.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.