Business & Economy
6:10 am
Tue June 26, 2012

State Regulators Consider Duke-Progress Merger

The decision to permit a Duke Energy-Progress Energy merger in now in the hands of state regulators.

Gurnal Scott: North Carolina Utilities Commission chairman Ed Finley was non-committal after yesterday's hearing.

Ed Finley: We hope to rule as expeditiously as we can now that everything is in.

Duke Energy hopes it's sooner rather than later. The utility claims fuel cost savings over six years and not making customers pay for layoffs will benefit consumers. Jim Warren of energy watchdog group NC WARN says his group still believes the commission is ignoring secret deals that Duke Energy will make customers pay for

Jim Warren: They can't simply blow it off. We think it has to happen and that examination has to happen before the merger is finalized.

Duke Energy is still targeting July 1st as the date the 23-million-dollar deal becomes final.