Tag: Progress Energy
August 27, 2012 at 10:39 amCategory:Uncategorized
It seems that everyone’s getting numb to the disturbing stories coming out of the Duke-Progress merger, but this one ought to register something on the outrage meter.
According to AP and the Winston-Salem Journal, Duke Energy has agreed to hold some of its big wholesale customers “harmless” for any costs that they may incur as a result of the merger. Read More…
July 6, 2012 at 9:55 amCategory:Uncategorized
There are at least a couple of thoughts that occur this morning in wake of the latest news about Duke Energy’s acquisition of (sorry, merger with) Progress Energy (née CP&L):
#1 – While some in the mainstream news media (and the Utilities Commission Public Staff) seem surprised that former progress chief Bill Johnson (right) has now been muscled out of the way and given a platinum parachute by the big Monopoly game winner Jim Rogers (left), my first reaction was: How could you not see this coming? Fat cat, empire-building CEO’s like Rogers are not about sharing power; they’re about winning it and grabbing more. The bottom line here is that Rogers came to this game with more weapons and almost certainly always intended to emerge “victorious.” All the public talk about cooperation and merger were almost certainly p.r. bull.
#2- And as for Johnson, Read More…
March 2, 2012 at 11:03 amCategory:Uncategorized
Recent news about nuclear power plants in our region should be enough to show that the industry’s alleged renaissance is in trouble. Never seen before breakdowns and off the charts construction costs should cause NC regulators to scrutinize and question any further nuclear energy plans. Read More…
October 19, 2011 at 2:19 pmCategory:Uncategorized
Here’s a new and sobering report from Democracy NC on the proposed Duke-Progress behemoth…
“Merged Utilities Would Create State’s Top Corporate PAC,
115 of 170 NC Legislators Have Duke/Progress Donations
The merger of Duke Energy and Progress Energy would not only create the largest electric utility in the nation. The combined lobbying muscle of the two companies would likely produce the most politically influential corporation inNorth Carolina, according to an analysis by the nonpartisan watchdog group, Democracy North Carolina. Read More…
October 6, 2011 at 3:11 pmCategory:Uncategorized
A wrench was thrown into the Duke and Progress Energy merger on Friday by the Federal Energy Regulatory Commission (FERC) which must approve the companies joining together before it can be finalized. The federal agency wants to hear from the utilities about how they will address “already excessive levels of market concentration.”
This wrench is a huge opportunity for consumers, the renewable energy business and its advocates. Those concerned about the merger should take full advantage of the uncertain moment and press for changes that will not only look after consumers but also advance energy efficiency and renewable energy to do our part to combat global warming. Read More…