Progress Energy

Business
4:55 pm
Fri November 9, 2012

Progress Boosts Duke Earnings, Challenges Ahead

Duke Energy CEO Jim Rogers

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:

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Business
2:37 pm
Thu November 8, 2012

Progress Merger Boosts Duke Earnings, But Challenges Ahead

Duke Energy CEO Jim Rogers

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:

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Local News
4:35 pm
Wed October 31, 2012

Duke Warns Troubled Plants To Cost $280M More

Duke Energy's new coal-fired plant near Edwardsport, Indiana
Credit 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.

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Duke Energy Director Details 'Friction' During
6:05 pm
Fri August 24, 2012

Duke Energy Director Details 'Friction' During Merger With Progress

Business
12:00 am
Thu August 16, 2012

Blended Duke/Progress Fleets Bring Savings

The trading floor at Duke Energy's Uptown headquarters.

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.

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Business
2:20 pm
Mon August 13, 2012

Duke CEO Reassures Florida Regulators

Jim Rogers

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.

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Local News
4:24 pm
Thu July 26, 2012

Watchdog Group Calls For New Hearings In Duke Merger

Duke Energy building in Charlotte
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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