Dive Summary:

• Duke Energy said it earned $444 million on revenue of $3.58 billion in the second quarter, up from $435 million on revenue of $3.53 billion.
• Regulators recently allowed Duke to charge its customers more for electricity, which accounts for a large portion of the revenue increase.
• Progress Energy, which reports its earnings separately from Duke, saw its net income fall 64 percent as a result of three nuclear reactor closings in the Carolinas.

From the article:

Duke Energy reported strong earnings for the second quarter on higher electric rates, but newly acquired subsidiary Progress Energy saw earnings plummet as a result of planned refueling shutdowns at three nuclear power plants.Duke became the nation's largest utility last month after it completed what became an acrimonious combination with in-state rival Progress. The poor results at Progress — and the good results at Duke — may take some pressure off Duke's board. State regulators are investigating the board's controversial decision to oust former Progress CEO Bill Johnson only hours after he was handed the top job at the combined company. ...