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Duke Energy CEO committed for Fla. settlement

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TALLAHASSEE, Fla. (AP) -- Duke Energy CEO Jim Rogers says he's committed to a settlement that's expected to head off future rate increases in Florida.

The head of what's now the nation's largest utility, based in Charlotte, N.C., told state regulators Monday in Tallahassee that Duke's troubled merger with Progress Energy won't affect the Florida agreement.

North Carolina regulators are investigating a decision by Duke's board to oust former Progress CEO Bill Johnson only hours after he was handed the top job of the combined company.

Board members said one reason they lost confidence in Johnson was problems with a Progress Energy nuclear reactor at Crystal River on Florida's west coast.

It's been out of service since 2009. Rogers said Duke hasn't yet decided whether to repair it or shut it permanently.

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 This material may not be published, broadcast, rewritten or redistributed.)

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