(The Center Square) – Charlotte-headquartered Duke Energy would like to get federal and state permissions to enjoin Duke Energy Carolinas and Duke Energy Progress in the Carolinas, saying it could save customers more than $1 billion over 10 years.
Since the 2012 merger of Duke Energy and Raleigh-headquartered Progress Energy, the two have operated separate sans most but not all corporate functions. More than 4.7 million residential, commercial and industrial customers would be impacted by further unifying the planning and operation of the respective power grids and generation resources.
To make it happen, approval is required from the North Carolina Utilities Commission; Public Service Commission of South Carolina; and the Federal Energy Regulatory Commission.
“Combining our two utilities reduces customer costs, simplifies operations, supports economic growth and promotes regulatory efficiencies, all of which will create value for customers in both states,” said Kodwo Ghartey-Tagoe, executive vice president and CEO of Duke Energy Carolinas. “There will be no immediate changes to retail customer rates or services. We look forward to sharing more details with our customers on how rates will evolve over time if the combination is approved by regulators.”
Duke Energy, a Fortune 150 company, said retail rates would not change immediately.
The company touts one utility as a better solution for new generation and transmission; generation reliability; regulatory efficiencies; and less confusion on programs, services and rates.
