Dive Summary:
- On Wednesday, NC WARN announced that it would challenge the North Carolina Utilities Commission's approval of the six-month-old merger between Duke Energy and Progress Energy that made Duke Energy the country's largest electric company..
- NC WARN claims the commission did not shield customers from nuclear reactor upgrading costs that could cancel out a promised $650 million in savings.
- While last year's 7% rate increase is being challenged by the North Carolina Justice Department, Duke plans to seek another rate hike soon.
From the article:
"A group critical of the merger that made Charlotte-based Duke Energy Corp. the country's largest electric company says it will seek to undo or revise the deal in a North Carolina appeals court.
NC WARN said Wednesday it is challenging the North Carolina Utilities Commission's approval of the deal combining Duke Energy with Raleigh-based Progress Energy. ..."