Progress Energy

Local News
1:25 pm
Tue February 18, 2014

Duke Earnings Up In 4th Quarter

Duke Energy building, Charlotte, N.C.

Duke Energy reported a 58 percent jump in profits in its fourth quarter earnings, partially due to lower costs and higher rates.


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Local News
1:39 pm
Wed August 7, 2013

Duke Earnings Drag In Second Quarter

Charlotte-based Duke Energy's 2Q earnings per share fell 50 percent compared to 2012.

A lackluster earnings report from Duke Energy out today is evidence the company's year-old merger with Progress continues to be a mixed bag for the bottom line.


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Local News
12:06 pm
Tue June 18, 2013

Lynn Good Named Duke CEO

Duke Energy CFO Lynn Good will become the company's president and CEO on July 1, 2013.
Credit Duke Energy

Duke Energy executive Lynn Good will replace long-time CEO Jim Rogers.

We knew Rogers would be leaving Duke. He's 65. And, state regulators made him promise to retire this year as part of a settlement to end the investigation into that surprise CEO switch when Duke merged with Progress.

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Solar Energy
5:43 pm
Mon June 17, 2013

Duke Energy Ranks Eighth In Solar Rankings

Duke Energy ranked eighth in the nation among regulated utility holding companies for total solar capacity in 2012.
Credit Tasnim Shamma

Since its merger with Progress last summer, Duke Energy has become the country's largest regulated utility company. But a report from the Solar Electric Power Association shows it ranks eighth in 2012 for the amount of solar power it can use at any one time.  


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Local News
4:19 pm
Tue February 5, 2013

Duke To Permanently Shutter Troubled Nuclear Plant In Florida

Duke Energy says it will shut down the Crystal River Nuclear Plant in Florida, rather than spend billions repairing it.
Credit Duke-energy.com

Duke Energy says it will close down a troubled nuclear plant in Florida – called Crystal River – rather than try to repair it at a cost of billions.  Making that decision has preoccupied Duke and its investors ever since the company merged with Progress Energy and inherited the Florida plant.  

"From the beginning of the merged company, the resolution of the nuclear plant issue has been among the company's top priorities, if not the company's top priority," says Duke Energy spokesman Mike Hughes. 

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Business
5:09 am
Thu January 24, 2013

Duke Duking It Out With Small Florida County Over Taxes

The tax value of Duke/Progress Energy's Crystal River nuclear plant in Florida is one point of contention between the company and Citrus County officials.
Credit Duke-energy.com

A small county on the Florida Gulf Coast is in a budget crisis because its largest taxpayer is refusing to pay up. Progress Energy Florida – which is now owned by Duke Energy – operates a coal and nuclear power plant complex that accounts for one-quarter of Citrus County's property tax revenues. But Duke Energy only paid half its tax bill last year and this week warned it'll do the same in 2013. WFAE's Julie Rose explains:

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Business
5:02 pm
Tue December 18, 2012

Duke Shuffles Executives

Jeff Lyash is the fourth high-ranking Progress Energy executive to leave since the company merged with Duke Energy.
Duke Energy

Another Progress Energy executive is out at Duke Energy in the latest personnel shuffle of the merged companies.  A Duke Energy spokesman says changes required in a settlement with North Carolina utility regulators sparked a "domino effect."  

Seven top executives are shifting titles and roles in what resembles a game of musical chairs.

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Environment
5:18 pm
Fri December 7, 2012

State Board Rejects Call For Coal-Ash Clean Up

Duke and Progress Energy will not have to clean up seepages from fourteen coal ash ponds, according to a ruling from the North Carolina Environmental Management Commission.  Several environmental groups including the Riverkeeper Foundation say the utilities are breaking state rules by not stopping their coal ash ponds from leaking into ground water.   

Commission chairman Steve Smith says the vote was 9-to-2 in favor of Duke and Progress.

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Local News
9:30 am
Mon December 3, 2012

Duke Settlement Restores 'Merger Of Equals'

Today, NC utility regulators will consider a settlement that boosts Progress Energy's influence in the merger with Duke.
Credit Duke Energy/Flickr

When North Carolina utility regulators meet Monday at 10 a.m., they're expected to approve a settlement that resolves their investigation into the sudden firing of Progress CEO Bill Johnson shortly after the company merged with Duke.

The settlement calls for Duke CEO Jim Rogers to resign by the end of next year. Critics say the utilities commission is wasting time on personality clashes and power struggles surrounding Duke's leadership switch at the expense of more substantive aspects of the merger that might impact customers. 

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Local News
7:49 am
Fri November 30, 2012

Duke CEO To Retire In Settlement With Regulators

Duke Energy CEO Jim Rogers will retire by the end of 2013.

Duke Energy CEO Jim Rogers will step down sometime next year as part of a settlement announced late yesterday that would resolve an investigation of the company's merger with Progress Energy. Angry North Carolina utility regulators launched the investigation when Duke's  board abruptly fired the man they'd promised would lead the merged company - Progress CEO Bill Johnson.

WFAE's Julie Rose joined Morning Edition Host Duncan McFadyen to sort through the settlement.

MCFADYEN: So Julie, is Duke admitting it was wrong to fire Johnson like that and keep Rogers on as CEO?

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