Duke Energy

Duke Energy is looking for new board members since the resignation of two former Progress Energy directors. 

The watch-dog group NC Warn continues to fight against the merger of Duke Energy and Progress Energy.  Yesterday the group filed motions with state regulators to try to re-open the merger hearings.

Leoneda Inge:  One claim NC Warn is making involves more than two-billion dollars Duke Energy plans to spend repairing and upgrading Progress Energy’s nuclear plants.   Jim Warren is executive director of NC Warn. He says Duke Power never disclosed that figure during the merger hearings. Warren fears customers will end up paying in the end.

There were signs early in the Duke-Progress Energy merger process that Bill Johnson would not have a long tenure at the combined company.  Ann Gray is the lead director on the Duke Energy board of directors.   She told the North Carolina Utilities Commission today the board did not have a good impression of Johnson at one of their first meetings in 2010.

Ann Gray:  He did describe himself as being an individual who likes to learn but not be taught. That was an expression that stayed with our board and we watched for that to develop.

The North Carolina Utilities Commission spent hours yesterday questioning ousted Duke Energy CEO Bill Johnson.  The former Progress Energy leader says he was stunned by the controversial turn of events that transpired once the two companies merged.

Edward Finley:  There were no issues with respect to who would be the president and who would be the CEO.

Bill Johnson:  No, there were a lot of interesting questions and issues in the hearings, but that was not one of them.

The merger of Duke Energy and Progress Energy was supposed to be a powerful marriage of relative equals, but from the moment they combined, the problems started. The board of the new company ousted one of its new leaders, sparking investigations and cries of betrayal. Host Frank Stasio talks to News & Observer reporter John Murawski about the controversy.

State regulators had some tough questions for Duke Energy’s CEO at a hearing in Raleigh yesterday. They wanted to know why the company switched CEOs as soon as its merger with Progress Energy was completed.

Ed Finley: Mr. Rogers, if you'll come around and be sworn please.

Duke Energy is now the largest utility in the country. But the company is moving forward without its expected leader.

Gurnal Scott: Duke Energy held a conference call with reporters to mark the merger's completion. And board member Anne Maynard Gray had another announcement.

Anne Maynard Gray: Bill Johnson has resigned as president and chief executive officer of the combined company by mutual agreement with the board.

North Carolina utilities regulators have approved the merger of Duke Energy and Progress Energy, the last major hurdle to creating the largest American electric company. North Carolina Utilities Commission Chairman Edward Finley Jr. said Friday the deal was the best possible in an environment of energy industry consolidation. Finley says it was preferable for the two North Carolina-based companies to combine rather than be bought up by a company elsewhere. Conditions to the merger include the companies passing along at least $650 million in savings to customers.

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.

Duke Energy officials hope a state Utilities Commission hearing today is the final hurdle before a merger with Progress Energy is complete.

Gurnal Scott: The commissioners will hear from company leaders about how consumers will be protected as Duke Energy seeks to become the nation's largest utility. Spokesman Tom Williams says the last year and a half since announcing the 26 billion dollar merger has prepared them.

RTI International has been awarded 4-point8-million dollars to develop technology to help reduce the energy needed to power manufacturing facilities.

Leoneda Inge:  RTI International will partner with Duke University and Veolia Water Solutions in Cary to develop a system that will allow heat from industrial processes to treat waste-water.  David Danielson is Assistant Secretary of Energy Efficiency and Renewable Energy for the US Department of Energy.  He says his office is funding 13 projects in this first round.

Duke and Progress Energy have filed an updated merger plan with federal regulators.  The companies filed a “market power” mitigation plan they hope will move the process along.

It could be six months before the Duke Energy-Progress Energy merger is complete.

A Durham-based environmental group warns utility companies are trying to add nuclear capacity without significantly reducing their use of coal power. A report from NC WARN focuses on what they call the "Southeast Five." That includes both Duke Energy and Progress Energy. Jim Warren is executive director of NC WARN.

State regulators continue a hearing today about whether Duke Energy and Progress Energy should merge.

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