Core drama at largest US electric company lingers

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

RALEIGH, N.C. — The investigations into whether regulators and consumers were misled ahead of the merger of North Carolina’s two Fortune 500 energy companies could continue quietly for months after a deadline arrives next week.

North Carolina utilities regulators and the state’s attorney general have demanded internal documents and other evidence by Aug. 7 involving Duke Energy Corp. and its surprise decision to change its top executive. That was a key detail of its takeover of Progress Energy Inc., and Duke Energy’s board of directors was discussing a change even as regulators considered approval.

The utilities commission plans to hire an outside law firm to review the documents to see whether it was misled when it approved the takeover June 29.

Source: The Associated Press

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.