Duke To Cover Costs Incurred By Customers In Progress Deal

Law360, New York (August 24, 2012, 8:39 PM EDT) -- Duke Energy Corp. has agreed to reimburse some of its power customers for hundreds of thousands of dollars in costs resulting from Duke's $26 billion merger with North Carolina-based Progress Energy Inc., the power giant revealed Friday as part of a forced disclosure.

Duke will make onetime, lump-sum payments to about 20 customers to cover unspecified “miscellaneous operating costs or rate impacts” the customers may have suffered as a result of the Progress deal, according to more than 200 partially redacted pages' worth of months-old side...
To view the full article, register now.