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.