The potential agreement between Duke Energy Progress and the N.C. Eastern Municipal Power Agency could spur economic development in the area, local officials said.
According to Monday’s announcement, the deal is likely to reduce rates for the city’s 27,000 electric customers. The full extent of the impact is yet to be determined, but approval of the deal is set to be completed by the end of 2016. The Federal Energy Regulatory Commission and N.C. Utilities Commission must still approve the deal.
In the proposed deal, Duke Energy Progress agreed to pay $1.2 billion for N.C. Eastern Municipal Power Agency’s generating assets in five facilities as well as fuel inventories and spare parts. (Source: Read more)