North Carolina regulators suspended their rules this morning to allow Progress Energy and Duke Energy to make speedy modifications to their proposed merger as the two power companies try to stick to their schedule to get the $26 billion completed this year.
The green light means that Progress and Duke will file their modifications today with the Federal Energy Regulatory Commission. That agency last month said it would not approve the merger without extra measrues to prevent the combined companies from manipulating the market price of electricity.
Charlotte-based Duke and Raleigh-based Progress are proposing to form the nation's largest electric utility. The deal requires approval from the federal commission as well as the N.C. Utilities Commission, with parallel reviews taking place simultaneously in Washington and Raleigh. ...
Read more: http://www.newsobserver.com/2011/10/17/1573354/nc-officials-waive-state-rules.html#ixzz1b3b4lMBHRead the full article
Read more articles in:News