Duke Energy DUK today
announced that it has reached a settlement agreement with the North Carolina
Attorney General.
The agreement resolves all issues related to the matters under review by the
attorney general regarding Duke Energy's change in president and chief
executive officer following the close of the merger between Duke Energy Corp.
and Progress Energy Inc. on July 2, 2012.
The following are some of the major details of the settlement:
o The Attorney General will not object to the settlement reached with the
NCUC.
o The Attorney General preserves all rights in future Duke Energy rate cases
in North Carolina.
o The Regulatory Policy and Operations Committee of the Duke Board of
Directors will meet with the Attorney General periodically.
o Duke Energy will retain an independent entity to survey North Carolina
customers about their satisfaction with their electric service and how it
could be improved, and report the results to the Attorney General within
one year.
o Duke Energy will retain an independent entity to survey its employees
regarding merger integration and post–merger operations, and report the
results to the Attorney General within two years.
o Duke Energy will designate a liaison in the company to communicate with
the Attorney General on customer-related information.
o Duke Energy will pay $250,000 to the Attorney General's office to defray
fees and expenses related to the post-merger investigation.
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