Wilmington HotelsWilmington AdvertiseWilmington AttractionsWilmington BeachesWilmington Business DirectoryWilmingtonWilmingtonWilmington GolfWilmington JobsWilmington NewsWilmington DiningWilmington Weather
     

 

 

Wilmington, NC News

  Free Wilmington Travel Guide!

Duke Energy won’t be repaid $10 million for DNC

CHARLOTTE, NC (AP) — Duke Energy will not be repaid a $10 million line of credit it guaranteed the city of Charlotte to host the Democratic National Convention last year.

The Charlotte Observer reported that Duke confirmed Thursday it will not be repaid.

Duke had indicated in November it did not expect to be repaid.

The utility said it can claim the money as a business expense for tax purposes. Duke shareholders will pay $6 million of the cost.

Duke spokesman David Scanzoni says the $10 million took 1 penny off Duke’s earnings for last year. The nation’s largest utility earned $1.7 billion for 2012.

Duke’s Jim Rogers says the company’s support was good for the city. He said Duke would have made the same offer if the Republicans had met in Charlotte.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

More: continued here

Be Sociable, Share!
 

Archives

News provided by WWAY NewsChannel 3 and the StarNewsOnline

|Home| |Events| |Attractions| |Accommodations| |Restaurants| |Golf| |Beaches| |Jobs| |Getting Here| |Climate| |Directory| |News| |Advertise| |Contact Us|

 
 
  Welcome to Wilmington, North Carolina