NC appeals court weighs Duke Energy merger deal

NC appeals court weighs Duke Energy merger deal

Credit: NBC Charlotte

NC appeals court weighs Duke Energy merger deal

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by The Associated Press

WCNC.com

Posted on November 6, 2013 at 4:38 PM

RALEIGH, N.C. (AP) -- The North Carolina Court of Appeals is weighing whether the state utilities regulator fully considered consumers before approving the deal that made Charlotte-based Duke Energy Corp. the country's largest electric company. 

The court heard arguments Wednesday in a lawsuit challenging the state Utilities Commission's decision last year to allow Duke Energy to buy Raleigh-based Progress Energy. The advocacy group NC WARN contends the commission allowed Duke Energy to make deals with big power customers while consumer risks were played down. 

A Duke Energy lawyer says the company guaranteed to pass along $650 million in fuel savings, and regulators were forced to consider that one or both of the North Carolina companies could be snapped up by outsiders. 

A court decision could take several months.   
 

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