Last week the Charlotte Observer published an interview in which Duke Energy CEO Jim Rogers said he had resolved the major scandal following his acquisition of Progress Energy by personally negotiating the settlement with NC Utilities Commission Chairman Ed Finley. Today NC WARN called on state Attorney General Roy Cooper to investigate that negotiation, which we believe was an unlawful communication that led to a multi-billion dollar miscarriage of justice against North Carolina’s electricity customers.
Duke-Progress Merger
Read more about NC WARN’s efforts to stop Duke Energy’s 2012 merger with Progress Energy.
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Group claims Duke Energy’s talks with state regulators were improper – Charlotte Observer
Jim Rogers: Duke Energy merger with Progress was worth it – Charlotte Observer
Duke Energy chief executive Jim Rogers traces the roots of a state investigation into the Duke-Progress Energy merger to differences in how regulators viewed the $32 billion deal… Rogers said he personally negotiated the settlement terms with commission Chairman Edward Finley, after Duke’s board vetted them, and with the help of current Duke and former Progress director James Hyler. Both he and Finley wanted to resolve the issue, he said.
N.C. environmental group sues to overturn Progress Energy-Duke merger – Tampa Bay Times
Duke-Progress Merger Contested in NC Court of Appeals – News Release from NC WARN
NC WARN Sues Regulators Over Duke-Progress Merger
Contesting the Duke/Progress Merger
NC regulator approves deal ending investigation into Duke Energy merger, surprise CEO switch – Associated Press
Duke Energy formalized deals Monday that ended separate investigations by North Carolina regulators and the attorney general into whether the utility misled officials before a merger that made it the country’s largest electric company. The deals seek to balance greater oversight of the company with flexibility for its executives.
NC regulator approves agreement with Duke Energy – NBC17
North Carolina’s utilities regulator and attorney general are settling separate investigations into whether Duke Energy misled officials before taking over its in-state rival Progress Energy.
The North Carolina Utilities Commission on Monday voted unanimously to approve the settlement announced last week. The deal defines CEO Jim Rogers’ retirement and the coming and going of several other executives and board members at what is now the country’s largest electric company.
Duke CEO to retire in settlement with regulators – WFAE
Duke Energy CEO Jim Rogers will step down sometime next year as part of a settlement announced late yesterday that would resolve an investigation of the company’s merger with Progress Energy. Angry North Carolina utility regulators launched the investigation when Duke’s board abruptly fired the man they’d promised would lead the merged company – Progress CEO Bill Johnson. WFAE’s Julie Rose joined Morning Edition Host Duncan McFadyen to sort through the settlement.