Regulators order Duke, Progress to disclose deals

Regulators order Duke, Progress to disclose deals

Regulators order Duke, Progress to disclose deals

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by Associated Press

WCNC.com

Posted on August 15, 2012 at 11:36 AM

RALEIGH, N.C. (AP) -- North Carolina utilities regulators have ordered Duke Energy and Progress Energy to detail some of the deals they cut with major customers before their merger earlier this year. 

The North Carolina Utilities Commission made the ruling Tuesday. 

The companies had argued that the information constitutes trade secrets. But the commission said the deals have no commercial value, so disclosing them wouldn't give anyone else an economic advantage. 

The companies have until Aug. 24 to file the records or appeal the ruling. 

Last week, regulators disclosed hundreds of emails and other documents related to Charlotte-based Duke's takeover of Progress. The commission has hired a former federal prosecutor to probe whether regulators were misled ahead of the acquisition that created America's largest electric company.
 

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