Posted by Curmilus Dancy II (Butch) on December 17, 2011
Some welcome news came this week with the announcement that Duke Energy’s plans to gobble up Progress Energy had been delayed by federal regulators.
Rocky Mount and New Bern can claim victory in the announcement, which experts predict will delay any utility merger for at least three months. (More)
See related:
New Bern NC – Duke-Progress merger blocked by regulators – Source: Sun Journal
City of Rocky Mount Responds to Recent FERC Order–Rejection of Duke-Progress Energy Merger
Posted in ElectriCities of North Carolina, NC Eastern Municipal Power Agency (NCEMPA), Rev. Andre Knight Rocky Mount NC Councilman/President NAACP, Progress Energy, Progress Energy and Duke Power Merger, New Bern NC, Mayor Lee Bettis New Bern, Duke Energy and Progress Energy Merger, Duke Energy, Merger delayed, New Bern City Council | Leave a Comment »
Posted by Curmilus Dancy II (Butch) on December 16, 2011
A merger between Duke Energy and Progress Energy to form the largest utilities company in the country has be blocked by federal regulators.
The Federal Energy Regulatory Commission said in a statement Thursday that Duke and Progress have not done enough to protect competition in North Carolina and South Carolina. (More)
See related:
City of Rocky Mount Responds to Recent FERC Order–Rejection of Duke-Progress Energy Merger
Posted in ElectriCities of North Carolina, NC Eastern Municipal Power Agency (NCEMPA), Rev. Andre Knight Rocky Mount NC Councilman/President NAACP, Progress Energy, Progress Energy and Duke Power Merger, Mayor Lee Bettis New Bern, Duke Energy and Progress Energy Merger, Duke Energy, Merger delayed | Leave a Comment »
Posted by Curmilus Dancy II (Butch) on December 15, 2011
Federal regulators have again rejected the proposed merger between Duke Energy and Progress Energy, assuring the $26 billion deal won’t get done this year, and raising questions whether it can get done at all.
The Federal Energy Regulatory Commission said this evening the merger raises serious concerns about giving the companies too much monopoly power in North Carolina. Announced in January, the merger would create the nation’s largest electric utility to be based in Charlotte. It would also result in the elimination of 1,860 positions, mostly in North Carolina. (More)
Response: Rocky Mount City Council and New Bern NC was on top of this thing. Maybe the other cities all 29 will get onboard in the future because they need to look at how they will benefit. What they need to do is to reimburse Rocky Mount and New Bern for some of the money they spent on legal fees. C. Dancy II – The Political Agitator
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Posted in ElectriCities of North Carolina, Merger delayed, New Bern City Council, New Bern NC, Progress Energy and Duke Power Merger, Rev. Andre Knight Rocky Mount NC Councilman/President NAACP, Rocky Mount NC, Rocky Mount NC City Council | Leave a Comment »
