Duke Energy and Progress Energy are within a month of their self-imposed deadline to effect a $90 billion merger, and the oft-amended plan that is still before regulators has a new challenge from lawmakers.
The Federal Energy Regulatory Commission (FERC) has sent the plans back several times, and North Carolina has not agreed. Now, a bill filed in the North Carolina General Assembly could ban the merger unless Progress picks up some of the N.C. Eastern Municipal Power Agency's $2 billion debt.
