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State regulators hear both sides of proposed Duke/Progress merger
Written by Gurnal Scott/David Horn   
Tuesday, 20 September 2011 10:28

(RALEIGH) -- The North Carolina Utilities Commission has begun its hearing into the proposed merger between Duke Energy and Progress Energy.   The utilities expect many to speak against the combination of the companies, but Progress Energy spokesman Mike Hughes said they plan to stress the benefits of this union.

"We'll present a case that provides guaranteed savings over five years of $650 million in saving through jointly operating our power plants, through buying fuel on a larger scale," said Hughes.

Some state citizens are speaking for and against the merger.  Duke Energy spokesman Tom Williams said he knows what the biggest concern is among North Carolinians.

"Concerns have been expressed about jobs both North Carolina overall and Raleigh specifically and also in Charlotte too.  We have 18,000 employees at Duke and Progress has about 11,000 and the whole intent of this process is to do it in a way that is very sensitive to our employees," said Williams.

Duke and Progress are still holding to an estimated loss of about 2,000 jobs between Raleigh and Charlotte. This equates to about five to seven percent of the utilities' workforce.

Environmental advocates argue that the merger would result in increased pollution from coal-fired power plants and stifle competition in the renewable energy market.  The combination of the two companies would create the nation's largest electric utility.

 
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