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Duke, Progress want new hearing on merger

CHARLOTTE, NC (AP) — Duke Energy and Progress Energy have asked federal regulators to take another look at their merger

The Federal Energy Regulatory Commission on Sept. 30 said it was concerned the merger would give the combined utility too much dominance in the Carolinas.

The companies responded last month with a plan to sell wholesale electricity at a fixed price to deal with federal concerns.

But Charlotte-based Duke and Raleigh-based Progress now say federal regulators should not have asked them to make changes to
gain approval.

The utilities’ filings on Monday suggest the federal agency unfairly evaluated the merger effect on wholesale electricity

Duke and Progress hope to complete the merger by the end of the year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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