Despite controversy, Duke merger benefits begin
Despite the negative press and controversy surrounding the now final Duke-Progress merger, customers of Duke Energy Carolinas and Progress Energy Carolinas -- both subsidiaries of Duke Energy Corp. -- could begin experiencing promised benefits very soon.
Duke Energy Carolinas and Progress Energy Carolinas are seeking regulatory approval to begin returning merger-related savings to customers – specifically, $650 million in promised savings over the next five years. Filings with the North Carolina Utilities Commission (NCUC) and Public Service Commission of South Carolina (PSCSC) seek total customer rate reductions of around $70 million over the next 12 months as a result of projected fuel and joint dispatch savings.
"Since the merger closed a month ago, we have been working to keep our commitment by immediately delivering savings to customers," said Keith Trent, executive vice president for regulated utilities. "We are scheduling and operating our generation plants as a combined fleet to obtain maximum efficiency, and using the expertise and best practices of the combined company to lower fuel costs for our customers."
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