One of the commitments Progress Energy made when they were trying to merge with Duke Power was there would be no rate increases. I had a feeling that wouldn't be the case. Now that the deal is done I suspect we're going to see more and more rate increases. Someone has to pay for Duke Power's $14 million golden parachute to the former CEO of Progress Energy who only spent a couple of weeks on the job. Once again, the public got shafted.
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