A story in this morning’s Charlotte Observer makes the answer pretty obvious:
“Duke Energy hit its 2013 earnings target on the strength of its merger with Progress Energy, higher customer rates and a strong finish to the year.
Profits of $2.7 billion for the year earned $3.76 a share, compared with the $1.8 billion and $3.07 a share in 2012, Duke said Tuesday.
Adjusted for one-time items, earnings were $4.35 a share, at the midpoint of Duke’s target range and ahead of analysts’ estimates. That’s up from $4.32 a year ago.”
Read the entire story by clicking here.