Snow Hill NC: Utilities Commission to hold hearing on controversial rate increase – Kinston.com

Soon, Progress Energy Carolinas customers will be paying more for their electricity.

The electricity provider made the application to the N.C. Utilities Commission in late 2012, and the commission is in Snow Hill tonight to hear from the public on the matter.

But there’s an agreement on the major points of the decision. (More)

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Progress Energy

Duke Energy to seek new CEO to settle merger investigation – WRAL

Response: I guess thank you is in order for Rocky Mount and New Bern because they filed a lawsuit against the merger not one time but 3 times.

Raleigh, N.C. — Duke Energy Corp. and the staff of the North Carolina Utilities Commission have agreed to settle a state investigation into Duke’s ouster of its new chief executive immediately after its acquisition of Progress Energy Inc.

The settlement agreement, which will be presented Monday to the commission for its approval, also calls for added savings for electric customers and job commitments in Raleigh, which had been Progress’ headquarters. (More)

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Duke Energy

Compel Duke Energy to Justify Billions in Planned Rate Hikes, Watchdogs Urge Regulators in Merger Case – News Release from NC WARN – July 31st, 2012

Duke claims it doesn’t have to reveal merger costs to the public; NC WARN argues  nuclear fleet corrections dwarf public benefits and were key reasons in CEO firing

Durham, NC – Today NC WARN filed a motion urging the NC Utilities Commission to compel Duke Energy to justify plans to charge customers more than $2.2 billion for nuclear plant corrections over two years, an amount that dwarfs the alleged public savings in the utility’s contested takeover of Progress Energy. (More)

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Duke Energy & Progress Energy Merger

Fresh documents reveal more CEO machinations at Duke Energy

The N.C. Attorney General’s office on Wednesday released documents from Duke Energy that suggest that just months after the Progress-Duke merger was announced, Duke CEO Jim Rogers and Progress Energy CEO Bill Johnson were in tense discussions about Johnson’s future role with the utility.

Johnson was slated to become CEO of the combined company. Instead, he was fired the day the merger was completed. (More)

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Duke Energy & Progress Energy Merger

Regulators order Duke, Progress to disclose deals – Charlotte Observer

RALEIGH, N.C. North Carolina utilities regulators have ordered Duke Energy and Progress Energy to detail some of the deals they cut with major customers before their merger earlier this year.

The companies had argued that the information constitutes trade secrets. But the North Carolina Utilities Commission said Tuesday the deals have no commercial value, so disclosing them wouldn’t give anyone else an economic advantage. The documents had been sought by several media outlets under public requests. (More)

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Duke Energy & Progress Energy Merger

Rocky Mount fights Duke, Progress merger – The Rocky Mount Telegram

Rocky Mount is continuing its legal battle to fight the merger of Duke Energy and Progress Energy, a deal that created the nation’s largest electric utility.

The Federal Energy Regulatory Commission approved the merger in June. (More)

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Duke & Progress Energy Merger

Two quit Duke Energy board, say new CEO needed

Response: So when will they undo this merger? This is just too much. It appears the merger is based on lies.

Charlotte, N.C. — Two riled directors of America’s largest electric company resigned Friday, saying they were blindsided by a surprise management switch that has put pressure on Duke Energy Corp.’s credit rating and stock price.

John Baker II and Theresa Stone called on the remaining board of directors to start a search to replace Chief Executive Jim Rogers. Baker and Stone had been on Progress Energy Inc.’s board of directors and joined the Duke board when the companies merged July 2. (Read more)

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Duke & Progress Energy Merger