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 Policy Watch

1. DHHS investigating suspected cancer cluster near Lake ...

Top Stories from NCPW

  • News
  • Commentary

GOP lawmakers want North Carolinians to make sweeping, permanent changes to the state Constitution a [...]

The lump started small and hid behind her ear. Harmless, the doctor said, nothing to worry about. So [...]

The Senate voted along party lines Tuesday night to overturn a partial judicial redistricting bill i [...]

Viola Williams has been crunching numbers and working out possible solutions since last week, when t [...]

From 1999-2016, opioid-related overdose fatalities increased by more than 800 percent in North Carol [...]

Would that North Carolina lawmakers had been so direct as “Pitchfork Ben” Tillman, a virulent white [...]

“I’m speechless.” So began the heartfelt lament of Rep. Verla Insko (D-Orange) late last Friday afte [...]

The post SB 711 – The pig’s roast appeared first on NC Policy Watch. [...]