Progress Energy

Duke CEO To Retire In Settlement With Regulators

Nov 30, 2012

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?

Progress Boosts Duke Earnings, Challenges Ahead

Nov 9, 2012

Duke Energy says earnings in the third quarter rose 26%, primarily because it was the first full quarter to include Progress Energy.  That figure slightly exceeded analyst expectations, but questions remain about challenges Duke Energy faces going forward.

The list includes:

Duke Energy says earnings in the third quarter rose 26%, primarily because it was the first full quarter to include Progress Energy.  That figure slightly exceeded analyst expectations, but questions remain about challenges Duke Energy faces going forward.

The list includes:

Duke Warns Troubled Plants To Cost $280M More

Oct 31, 2012
Duke Energy

The cost to build Duke’s coal-fired plant in Edwardsport, Indiana was already about a billion dollars over original estimates.

Now the testing of new technology to burn coal more cleanly at the plant is taking longer than expected and adding $180 million to the cost.

Duke spokeswoman Angeline Protogere says this should be the last expensive delay for the Edwardsport plant.

“We believe this is a realistic cost for the project,” says Protogere.

Blended Duke/Progress Fleets Bring Savings

Aug 16, 2012

The merger between Duke and Progress Energy is still under investigation by state regulators, but that hasn't stopped the companies from moving ahead with the marriage.

They're actually obligated to start generating significant savings for customers right off the bat. Much of those savings originate in a heavily-secured room full of computer screens at Duke's Uptown headquarters.

As marriages go, Duke and Progress are a blended family in the Carolinas, not unlike the Brady Bunch.

Duke CEO Reassures Florida Regulators

Aug 13, 2012

Duke CEO Jim Rogers again took questions from regulators today - this time in Florida, where the company now has a presence thanks to its merger with Progress Energy.

Duke Energy/Flickr

The outspoken watchdog group NC WARN has begun a legal effort to have state regulators retract approval of the merger between Duke and Progress Energy.

The North Carolina Utilities Commission is already taking a second look at the Duke/ Progress merger in light of the company's last-minute change of CEO.

But NC WARN would like the whole thing reopened, which would force Duke to justify the merger again, and give regulators the option of rejecting it.

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