Duke, Progress Seek Rehearing On Blocking Power Companies' Merger

CHARLOTTE, N.C. (AP) -- Progress Energy and Duke Energy are asking federal regulators to reconsider their request to merge, a move that would create the country's largest electric utility.

Duke Energy said the companies filed a request Friday for a rehearing with the Federal Energy Regulatory Commission.

The companies had pressed all of last year to complete their deal by the end of 2011. But FERC said the companies haven't done enough to protect competition in their North Carolina and South Carolina home markets.

Duke Energy spokesman Tom Williams said the companies filed the appeal Friday so they wouldn't miss a 30-day deadline for doing so. He says the companies are now developing an alternative proposal that they hope will address FERC's concerns.

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  • by pete Location: grifton on Jan 14, 2012 at 11:26 AM
    Guess the new name will be PUKE ENERGY.

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