Duke, Progress Plan Fails To Offset Antitrust Worry: FERC

Law360, New York (December 16, 2011, 2:43 PM EST) -- The Federal Energy Regulatory Commission on Wednesday rejected a proposal submitted by Duke Energy Corp. and Progress Energy Inc. that sought to mitigate decreased competition from the two energy companies’ merger, saying the proposal did not go far enough.

The FERC found that the proposed plan Duke Energy and Progress Energy jointly filed in October did not substantially eliminate the opportunity for the merged entity to act anti-competitively in North and South Carolina.

“The decision to reject the proposed mitigation plan was not taken lightly,” Commissioner...
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