Duke and Progress will resubmit merger plan
January 4, 2012
By John Murawski
Duke Energy and Progress Energy expect to submit a new proposal for their corporate merger this month as the North Carolina power companies make a third attempt to appease federal monopoly concerns.
Progress CEO Bill Johnson, who would run the combined Duke Energy out of Charlotte, said Tuesday that the trick will be to preserve the $650 million in savings promised to regulators in the Carolinas while also selling off a sizable chunk of electricity into wholesale markets to appease federal regulators.
View the rest of the Charlotte Observer article here.