CHARLOTTE, NC (WBTV) - Duke Energy and Progress Energy announced Thursday they remain committed to proceeding with their planned merger after a federal commission raised concerns about a potential monopoly over the area served.
The companies’ legal and regulatory teams are currently reviewing the order issued late yesterday by the Federal Energy Regulatory Commission (FERC) related to the agency’s concerns about market power. The companies are planning to submit a revised mitigation proposal as soon as the analysis of the commission’s order is complete and after any required notice to the North Carolina and South Carolina commissions.
The FERC’s action changes the companies’ timeline for closing the merger.
The earliest close date would be in March, but will ultimately depend upon the regulatory approval process.