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NC regulator approves Duke Energy probe settlement

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EMERY P. DALESIO
AP Business Writer

RALEIGH, NC (AP) -- North Carolina's utilities regulator and attorney general are settling separate investigations into whether Duke Energy misled officials before taking over its in-state rival Progress Energy.

The North Carolina Utilities Commission on Monday approved the settlement announced last week. The deal defines CEO Jim Rogers' retirement and the coming and going of several other executives and board members at what is now the country's largest electric company.

The commission had the power to reverse or alter its earlier approval allowing the merger.

Attorney General Roy Cooper's office said Monday it is ending its probe with a separate settlement in which the company agrees to heightened consumer protection oversight.

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 This material may not be published, broadcast, rewritten or redistributed.)

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