Today the NC Court of Appeals ruled against NC WARN’s appeal of a Utilities Commission investigation of the 2012 Duke Energy merger with Progress Energy.
Read more about NC WARN’s efforts to stop Duke Energy’s 2012 merger with Progress Energy.
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The N.C. Court of Appeals says state regulators properly excluded watchdog group NC WARN from participating in the hearing over whether Duke Energy lied to them about plans for its 2012 purchase of Progress Energy Inc.
The NC Court of Appeals today denied NC WARN’s challenge to the 2012 corporate merger that created the world’s largest electric utility. We believe the Court erred and we are likely to appeal to the NC Supreme Court.
Attorney John Runkle asks, “Where are the savings for consumers? The merger was billed as a better deal for North Carolina consumers. Duke has gone up in rates in 2009, 2011 and then last year…Progress had their first rate case in over 20 years, so the rates are going up.” Runkle represents the energy watchdog group NC WARN, which is still in the process of appealing the merger.
The NC Court of Appeals will hear oral arguments tomorrow in NC WARN’s challenge to a 2012 corporate merger that created the world’s largest electric utility.
The NC Court of Appeals is reviewing NC WARN’s case challenging a 2012 merger that created the nation’s largest electric utility.
State regulators yesterday made a strange ruling that, if upheld by the courts, would abolish part of an ongoing appeal of a 2012 merger that created the nation’s largest electric utility. Duke Energy is seeking to prevent NC WARN’s case from being heard by the NC Court of Appeals, and the state Utilities Commission is claiming it has the authority to govern what the court can hear.
Last year’s merger between Progress Energy and Duke Energy came back to haunt Progress on Monday as critic after critic grilled company executives on sweetheart deals designed to spare large utility customers a rate increase.
Environmental watchdog group NC WARN wants North Carolina’s attorney general to investigate whether Duke Energy CEO Jim Rogers improperly negotiated directly with N.C. Utilities Commission Chairman Ed Finley to settle the commission’s inquiry into Duke’s $32 billion purchase of Progress Energy.
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.