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Duke, Progress promise to build new power lines

AP Business Writer

RALEIGH, NC (AP) — Duke Energy and Progress Energy say they’re willing to spend $110 million on new power transmission lines as they try to get federal approval for a merger creating the largest US electric utility.

The companies added details Monday to their third offer to regulators judging their merger proposal. The Federal Energy Regulatory Commission twice last year said the companies did not do enough to protect competition in their North Carolina and South Carolina home markets.

Duke Energy and Progress Energy last month told North Carolina regulators they’re willing to spend up to $150 million to reduce competition concerns. The utilities now say most of that will go to building seven transmission projects to increase the electricity that can flow into the states from outside suppliers.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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