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Duke Energy CEO: Details of merger work going well

RALEIGH, N.C. (AP) – Duke Energy CEO Jim Rogers is telling North Carolina regulators the merger with Progress Energy is progressing well two months after the deal creating the country’s largest electric company was done.

Rogers said Friday in a letter to the state Utilities Commission that more than 1,100 workers chose to take voluntary buyouts and the jobs for the top three layers of managers are about two-thirds filled by people from the old Duke Energy. Rogers says the company’s state headquarters is moving to Raleigh, and the Charlotte-based power company was able to borrow $1.2 billion at low rates in a bond sale.

Utilities regulators and North Carolina’s attorney general are investigating Duke Energy over its surprise ouster of the Progress Energy CEO who was supposed to take over the combined company.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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