Tags:The Charlotte Observer published this editorial opinion:
This week, the leaders of Duke and Progress made their cases for the merger - and heard arguments against it - at public hearings before the N.C. Utilities Commission in Raleigh. By law, the $26 billion deal can't go through without the commission's approval, and federal authorities also have to sign off on the merger ...
Opposition to the deal settled mostly into three camps: concern about the 2,000 jobs the companies have said they would eliminate; worry about a larger Duke becoming too powerful politically; and disappointment that Duke hasn't committed more robustly to alternative energy such as wind or solar. ...
[Duke CEO Jim Rogers] says that Duke has aggressively pursued renewable energy; still, he refused to commit the company to creating more green energy than the 12.5 percent of its total electric generation that state law requires by 2021. ...
Although we're saddened by the job losses that would come with a Duke-Progress merger, the pairing of two regional entities with adjoining coverage territories makes sense. The efficiencies gained by the merger should ultimately produce cost savings that allow Duke to reinvest in its energy production. It's up to the commission to ensure that customers realize those benefits, both in our bottom lines and our environment.
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