Opinions of Duke Energy acquisition of Progress Energy (Raleigh, Durham: university, utilities)

[NOLA2CARY]

Just curious as to the impact you all see with the acquisition of Progress Energy by Duke Energy.

I am completely new to the area and wondering if this is viewed as a positive or negative impact for the consumers.

Thanks in advance.

[MrRational]

I look forward to the day when people act on the realization...
that the days of regulated utilities were actually far better for everyone involved.

hth

[CHTransplant]

It's too complicated for me to know.

But, having Red Hat move to downtown Raleigh in the space occupied by Progress Energy will be nice for the city.

[evaofnc]

I wonder if I'll get a discount on my energy bill as a Duke employee

[Bull City Rising]

Originally Posted by evaofnc

I wonder if I'll get a discount on my energy bill as a Duke employee

(You probably already know this but for those who might wonder...)

Duke Energy isn't owned by Duke University. But, the Duke family, AKA "The Dukes of Durham" as the book title goes, founded the American Tobacco Co. as well as what is today Duke Energy... and Buck Duke left the Duke Endowment along with funds to endow what became Duke University.

[Beermat]

Originally Posted by NOLA2CARY

Just curious as to the impact you all see with the acquisition of Progress Energy by Duke Energy.
I am completely new to the area and wondering if this is viewed as a positive or negative impact for the consumers.
Thanks in advance.

You might find this thread of interest not least because 5 months ago there was some thought that Electricity rates would reduce as a consequence of the merger. Oviously our regulators have short memories considering the recent 7.2% increase they approved.

https://www.city-data.com/forum/ralei...-progress.html

[Bmateo]

I though the merger was put on hold, no?

[tmasek73]

The initial merger documents got rejected but Progress and Duke are back to the drawing boards intent on making the merger happen. They said up to 1000 Progress employees possibly affected by buyouts are on hold until at least March now due to the uncertainty.

[wizard-xyzzy]

Eventually the feds will allow some version of the deal to go through, but Duke/Progress will have to make more concessions.

[saturnfan]

Very negative and I used to work for a utility in Louisiana.

The bigger they get the more opportunity to manipulate electricity generation costs and pass them to ratepayers. Ratepayers will be reamed.

Progress is already a combination between NC (Carolina Power and Light) and FL (Florida Powerand Light). No need to get bigger.