Tagged: Progress Energy

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:

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.

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. 

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.