North Carolina utilities regulators are shedding a rare light on whether secret decisions at Duke Energy might undercut expected consumer savings from its takeover of Progress Energy.
The North Carolina Utilities Commission holds a hearing Thursday featuring the Duke Energy CEO ousted within hours of becoming the top executive of the country's largest electric company.
Progress Energy Inc. CEO Bill Johnson was scheduled for a year and a half to take over the combined company serving 7 million electricity customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. But hours after the deal was done July 2 and he got the job, Johnson was out.
Johnson is expected to address criticism of his leadership style and costs at a troubled Florida nuclear plant.
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