Uncategorized

Rogers pledges new Duke Energy will be good for consumers, despite shaky start (video)

The North Carolina Utilities Commission made their displeasure known Tuesday at Duke Energy’s sudden decision last week to oust Bill Johnson as president and chief executive, just hours after its merger with Progress Energy was finalized.

Duke Chief Executive Jim Rogers did his best to ease the concerns of state regulators noting that Duke’s board of directors had begun to lose confidence in Johnson in the weeks leading up to the merger, but had not officially decided to replace him at the helm of the combined company.

Commissioner Bryan Beatty pointedly asked Rogers why none of this had been raised with the Utilities Commission before the merger was green-lighted.

Rogers said his board was focused on the benefits of the deal, and did not believe the state regulators could stipulate who would act as the CEO of the utility:

“It is solely within the discretion of a corporation to determine who is in what position in a corporation,” explained Rogers. “There is no precedent where any state commission has ordered that a certain person be in a certain position.”

The state Utilities Commission does have the power to rescind its decision approving the merger. But no decision was made Tuesday.

Commission Chairman Ed Finley said it was clear that both sides would have to work on rebuilding a level of trust moving forward.

To watch some of the highlights of  the four-hour hearing, click below:

One Comment


  1. […] Chief Executive Jim Rogers told a much different story. Rogers said Duke’s board of directors had lost confidence in Johnson in the weeks leading up to the merger, describing Johnson’s leadership style as […]

Check Also

The week’s Top Stories on NC Policy Watch

1. The next big battle in North Carolina ...

Top Stories from NCPW

  • News
  • Commentary

Breaking the Republicans’ veto-proof majority was the Democrats’ and voting rights activists’ short [...]

The Joint Subcommittee on the Atlantic Coast Pipeline voted Wednesday to launch an investigation int [...]

North Carolina is not the only state whose transgender state employees and dependents are without in [...]

As LGBTQ state employees and dependents struggle to restore State Health Plan coverage for transgend [...]

Despite the manufactured panic of the migrant caravan, despite the midterm’s so-called “referendum o [...]

The 2018 election may finally be in the rear view mirror, but for better or worse, the next battle o [...]

The first thing Gov. Roy Cooper did after he reported for work on Wednesday, Nov. 7, was to order up [...]

The post The GOP’s Supermajority appeared first on NC Policy Watch. [...]