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

NC appeals court upholds Duke-Progress deal

READ MORE:

GARY D. ROBERTSON
Associated Press

RALEIGH, NC (AP) -- A North Carolina appeals court has upheld the regulatory decisions that made Duke Energy Corp. the country's largest electric company.

A three-member panel of the state Court of Appeals on Tuesday upheld the 2012 decision by the North Carolina Utilities Commission that approved Duke Energy's purchase of Progress Energy, with some stipulations.

The advocacy group NC WARN challenged the commission's decision, arguing the panel did not fully consider the acquisition's impact on consumers. But the judges ruled unanimously the commission was not wrong in determining the deal was justified and supported by evidence. A challenge by the city of Orangeburg, SC, also was thrown out.

Charlotte-based Duke Energy serves 7 million customers in the Carolinas and four other states. It's the largest U.S. utility based on customers and market value.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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.