Duke Takeover of Progress Appealed by Conservation Group

[struggle4progress]

By Sophia Pearson and Jim Polson on January 09, 2013

A North Carolina conservation group will appeal the approval by state regulators of Duke Energy Corp. (DUK)’s $17.8 billion purchase of Progress Energy Inc.

The North Carolina Waste Awareness & Reduction Network, in a notice of appeal filed today with the state utilities commission, said regulators made “numerous errors” in the approval process.

“In ignoring key merger costs, the North Carolina Utilities Commission helped lock in Duke’s business plan for serial rate hikes to build dirty and dangerous power plants North Carolina does not even need,” Jim Warren, the group’s executive director, said in a statement.

Duke, based in Charlotte, North Carolina, said in a statement that the appeal lacks merit ...

http://www.businessweek.com/news/2013-01-09/duke-takeover-of-progress-appealed-by-conservation-group

[nc4bo]

1. Going to take every opportunity to remind people about the Pat McCrory/Duke Energy ties that bond.

Especially during the next 2-4 years.

[ProfessionalLeftist]

2. Duke Energy owns & controls NC now...

... They'll do as they damn well please with utter impunity. McCrory's job is to see to that.