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Duke Energy and Progress Energy File Updated Settlement Agreement in N.C.

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Duke Energy (NYSE: DUK) and Progress Energy (NYSE: PGN) have entered into a supplemental merger settlement agreement with the North Carolina Utilities Commission (NCUC) Public Staff.

The agreement was filed with the NCUC today. It is subject to approval by the NCUC after action by the Federal Energy Regulatory Commission (FERC) on various merger-related filings.

The filing is a supplement to a previous settlement agreement filed Sept. 2, 2011. It addresses state regulatory issues raised by the market power mitigation proposal filed with the FERC on March 26, as well as clarifying provisions included in the previous settlement agreement.

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