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.
Read more about NC WARN’s efforts to stop Duke Energy’s 2012 merger with Progress Energy.
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A Durham advocacy group has asked attorney general Roy Cooper to investigate whether Duke Energy and the N.C. Utilities Commission engaged in illegal “backroom deal-making” during talks to settle the Duke-Progress Energy merger probe.
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.
A North Carolina environmental watchdog group filed an appeal Wednesday to revoke or modify the Progress Energy and Duke Energy merger, citing costly troubles with Progress’ nuclear fleet in Florida.
Today NC WARN filed notice with the NC Court of Appeals that it is challenging the NC Utilities Commission’s approval of the merger between Duke Energy and Progress Energy, which created the largest US electric utility.
NC WARN filed notice with the NC Court of Appeals on January 9, 2013 that it is challenging the NC Utilities Commission’s approval of the 2012 merger between Duke Energy and Progress Energy, which created the largest US electric utility.
Video: Executive Director Jim Warren explains why NC WARN continues to contest the merger of Duke Energy and Progress Energy in the North Carolina Court of Appeals.
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.
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 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.