Raleigh, N.C. — Duke Energy Corp. and the staff of the North Carolina Utilities Commission have agreed to settle a state investigation into Duke’s ouster of its new chief executive immediately after its acquisition of Progress Energy Inc. The settlement agreement, which will be presented Monday to the commission for its approval, also calls for added savings for electric customers and job commitments in Raleigh, which had been Progress’ headquarters.
Read more about NC WARN’s efforts to stop Duke Energy’s 2012 merger with Progress Energy.
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Today’s announced settlement between Duke Energy and state regulators is a sell-out of the public that was conducted behind closed doors. As signaled earlier, NC WARN will fight the merger in court – with a very strong legal case – and we’re counting on Attorney General Roy Cooper to also stand up for the public. The utilities regulators sure aren’t protecting the public interest.
By Pam Sohn A nuclear watchdog group is touting a memorandum sent by Bill Johnson — TVA’s soon-to-be new leader –as the smoking gun that should reopen the Duke-Progress energy merger that formed what is now the nation’s largest utility company. Jim Warren, director of NC WARN in North Carolina, …
Durham advocacy group NC WARN is continuing to press state regulators to undo the merger between Duke Energy and Progress Energy, using some of its strongest language to date to denounce the $32 billion deal. On Tuesday NC WARN told the N.C. Utilities Commission it had discovered an internal document that suggests “criminal misconduct and perjury” on the part of Progress and Duke officials in the weeks leading up to their merger.
An April memo from ousted CEO Bill Johnson appears to confirm long-running concerns by a watchdog group that Duke Energy hid vital information from regulators in several states prior to the July closing of the utility’s controversial takeover of Progress Energy.
NC WARN calls out Progress Energy for charging political pay-offs to customers via an accounting fiction. Millions to influence politicians should be rejected in rate case, says watchdog group.
This would slash purported public savings, thus it bolsters the call for commission to reopen hearings and “do the math”
To win support for its $32 billion merger with Progress Energy, Duke Energy promised lump sum payments of least $1.67 million to municipal utilities and rural electric cooperatives while promising large commercial and industrial customers programs to cut their electricity rates by up to 6 percent.
NC WARN today announced a statewide advertising campaign satirizing Duke Energy executives while calling for disclosure of billions in costs the nonprofit says the giant utility hid until after last month’s takeover of Progress Energy was approved.