The likelihood that the damaged Crystal River nuclear reactor in Florida will produce another megawatt of electricity appears to have dimmed following the merger of owner, Progress Energy, with Duke Energy, and the surprise exit of Progress’ top executive Bill Johnson.
Duke-Progress Merger
Read more about NC WARN’s efforts to stop Duke Energy’s 2012 merger with Progress Energy.
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State panel wants to know if Duke Energy misled it on the merger – The Charlotte Observer
More will be on the line than who’s in charge of the largest U.S. electric utility when Duke Energy CEO Jim Rogers testifies Tuesday before the N.C. Utilities Commission.
Investigations into Duke Energy Require an End to Duplicity, Secrecy – News Release from NC WARN
We appreciate that both the NC Utilities Commission and NC Attorney General Cooper have opened separate investigations into Duke Energy’s takeover of Progress Energy. It is critical that both investigations allow full and open scrutiny of all questions about winners and losers – in particular, who Duke intends to charge for several multi-billion dollar power plant fiascos and for the $44 million parachute former Progress CEO Bill Johnson glides away with.
Utilities Commission investigating Duke Progress merger – NBC 17
The N.C. Utilities Commission has decided to hold an investigation and hearing on Tuesday, looking at why Duke Energy decided to replace CEO Bill Johnson with Duke’s James Rogers.
NC WARN Calls for Utilities Commission Hearings on Duke Energy Coup D’Etat – News Release from NC WARN
The recent decision by the new Duke Energy Board of Directors to oust former Progress Energy CEO Bill Johnson from the position as the CEO of the merged company within hours of the merger demands a serious investigation.
Duke Energy merger creates largest U.S. utility – The New York Times
Duke Energy said on Tuesday that it had completed its $32 billion merger with Progress Energy, a few hours after South Carolina gave final approval. The move creates the largest electric utility in the United States, with 7.1 million customers in six states in the Southeast and Midwest.
Duke-Progress Merger Signals Challenges to Economy, Environment and Democracy – NC WARN Press Release
Statement by NC WARN DirectorJim Warren: Creation of the nation’s largest electric utility will require enhanced vigilance and action by public advocates to protect our economy, our environment and our democracy from a giant corporation well-known for its use of political muscle to pursue profits and expansion. This merger will …
Large Customers Oppose Unsealing Merger Deals – Without Justifying Claims of “Trade Secrets” – News Release from NC WARN
It is quite curious that in arguing against the unsealing of 17 secret deals in the Duke-Progress merger case, large customers and the utilities avoid addressing the very “trade secrets” criteria detailed in the NC Public Records Act.
State regulators expect to rule on Progress-Duke deal quickly – The News & Observer
The commission hearing room was filled to capacity Monday. N.C. WARN attorney John Runkle cross-examined Progress executive Sasha Weintraub and posed questions to James Hoard, an accounting division head at the Public Staff, the state’s consumer protection agency in utility matters.