Dive Brief:
- A North Carolina appeals court unanimously upheld the decision by state regulators to approve the merger of Duke Energy and Progress Energy.
- Duke contends that its purchase of Progress, approved in 2012 by the North Carolina Utilities Commission, has produced $190 million in savings so far.
- An advocacy group claimed that Duke had never shown the merger would benefit ratepayers.
Dive Insight:
As in this case, courts usually give deference to state regulatory agencies when they make their decisions. The decision should remove a small amount of legal uncertainty for Duke, although the appeals court decision could be reviewed by the North Carolina Supreme Court.
