Bringing The World Home To You

© 2021 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton
Play Live Radio
Next Up:
Available On Air Stations
Business & Economy

New Deadline for Duke - Progress Merger

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

Leoneda Inge:  Duke and Progress informed the Securities and Exchange Commission that they would likely need 18 months to complete the 26-billion dollar deal.  That would mean jumping a lot of hurdles by July of this year.  The plan was to have the merger complete this month.  FERC, The Federal Energy Regulatory Commission, has several concerns about the merger, including the impact on customers.   Tom Williams is a spokesman for Duke Energy.  He says the companies will soon re-file the merger agreement with FERC.

Tom Williams:  We haven’t pulled anything off the table and we’re still doing some internal studies on what would be best to address FERC’s concerns and then we would make a determination of whether the economics of that would work.

If the merger is approved, it will create the nation’s largest utility, serving more than seven million customers.

More Stories