The N.C. Utilities Commission ordered Tuesday that some provisions of the 20 confidential settlement agreements filed as part of the Duke Energy-Progress Energy merger be made public.
Read more about NC WARN’s efforts to stop Duke Energy’s 2012 merger with Progress Energy.
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Duke Energy seems to believe it can simply avoid making a substantive argument against NC WARN’s motion to reopen evidentiary hearings based on the utility’s withholding of information in its merger with Progress Energy. Possibly Duke believes the NC Utilities Commission will simply defer to its corporate giant-ness as Florida commissioners did this week in their “welcome Mr. CEO” session with Jim Rogers.
The NC Utilities Commission has ordered Duke Energy to unseal many of the 17 secret deals the utility used to gain large customers’ support for last month’s merger with Progress Energy.
NC WARN has opposed Duke Energy’s takeover of Progress Energy since it was announced in early 2011 for a variety of reasons. Foremost is that the merger would tend to strengthen Duke’s business model of perpetuating the use of climate-heating fossil fuels and raising customer rates to build unneeded power plants for decades to come.
Utility says regulators must delay action on re-opening merger hearings, while still avoiding key questions about billions in planned charges to customers
Duke claims it doesn’t have to reveal merger costs to the public; NC WARN argues nuclear fleet corrections dwarf public benefits and were key reasons in CEO firing
An advocacy group asked the N.C. Utilities Commission on Thursday to reconsider its approval of the Duke Energy-Progress Energy merger, claiming Duke hid plans to spend more than $2 billion in nuclear plant upgrades.
The outspoken watchdog group NC WARN has begun a legal effort to have state regulators retract approval of the merger between Duke and Progress Energy.
State regulators must reopen evidentiary hearings and require Duke Energy to prove why its already-sullied takeover of Progress Energy should not be revoked. Click here for news release and three legal motions.
Click here to listen to an audio recording of the press conference.
After listening to the hours of hearings probing the 20-minute tenure of former Progress Energy CEO Bill Johnson at the merged Duke Energy, I can’t escape this conclusion: The new Duke Energy board is much better at protecting its shareholders than the state Utilities Commission is at protecting North Carolina’s ratepayers.