State regulators expect to rule on Progress-Duke deal quickly

From the Raleigh News & Observer:

The state’s lead utility regulator suggested Monday that a much-anticipated N.C. Utilities Commission ruling on the proposed merger between Progress Energy and Duke Energy could come any day.

At the conclusion of a brief public hearing in Raleigh, Commission Chairman Edward Finley Jr. said participants in the merger proceedings are welcome to make more filings for the commissioners to consider. But Finley warned that the commission could issue its merger decision so fast that there won’t be time to make more filings.

“There’s no guarantee the order will wait until the filings are received,” Finley said.

Finley’s comments capped a 56-minute hearing held to allow N.C. Waste Awareness and Reduction Network to raise questions about the $26 billion utility deal that would form the nation’s largest electric utility. Finley noted that the Durham group was the only one out of 26 organizations participating in the merger that is still challenging it.

Read the full article here.