N.C. Utilities Commission Investigating Duke-Progress Merger

RALEIGH, N.C. (AP) -- The nation's new largest electric utility is facing trouble from North Carolina regulators after its last-minute decision to swap CEOs.

North Carolina's attorney general is seeking documents and all communications from inside Duke Energy to determine whether consumers were misled prior to the merger that created the utility giant with 7 million customers. The North Carolina Utilities Commission said Friday it's launching an investigation and is ordering new Duke Energy CEO Jim Rogers to appear at a hearing Tuesday.

Progress Energy chief executive officer Bill Johnson was slated to head the combined company, but hours after the merger, the new company said he had resigned. Duke Energy announced Tuesday that Rogers was the new CEO.

The Charlotte, N.C.-based company has refused to disclose the reason for the last-minute change.


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