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Progress and Duke submit answers to federal regulators about competition concerns

Progress Energy and Duke Energy on Friday moved to keep their proposed merger alive with answers to federal regulators about how the utilities will resolve concerns that the deal will hurt competition.

In response to questions by the Federal Energy Regulatory Commission, the utilities submitted data and models to show how they plan to increase the amount of power imported from competitors into their service areas in the Carolinas. The utilities are proposing to expand seven transmission projects at a cost of $110 million, which they say will promote more market competition.

The commission had requested in a letter Tuesday that the utilities provide more information about the plan.

Progress and Duke want to complete the merger before their agreement for the deal expires in July. The utilities have asked the commission to make a ruling by June 8 so local regulators in the Carolinas can make their ruling before the July deadline.

Progress and Duke submit answers to federal regulators about competition concerns 04/13/12 [Last modified: Friday, April 13, 2012 6:37pm]
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