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

Duke, Progress want new hearing on merger

READ MORE:

CHARLOTTE, NC (AP) -- Duke Energy and Progress Energy have asked federal regulators to take another look at their merger
proposal.

The Federal Energy Regulatory Commission on Sept. 30 said it was concerned the merger would give the combined utility too much dominance in the Carolinas.

The companies responded last month with a plan to sell wholesale electricity at a fixed price to deal with federal concerns.

But Charlotte-based Duke and Raleigh-based Progress now say federal regulators should not have asked them to make changes to
gain approval.

The utilities' filings on Monday suggest the federal agency unfairly evaluated the merger effect on wholesale electricity
markets.

Duke and Progress hope to complete the merger by the end of the year.

(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.