Duke Energy and Progress Energy Consider FERC's Conditional Merger Orders' Positive Developments

Duke Energy

and Progress Energy

consider the June 8 conditional orders by the Federal Energy Regulatory Commission (FERC) to be a positive development in enabling the companies to close their proposed merger by the targeted date of July 1. The companies have substantially completed their evaluation of the orders' conditions and expect to make a compliance filing with the FERC within 15 days, as requested by the FERC. They will also work to secure final merger-related approvals from the North Carolina Utilities Commission (NCUC) and Public Service Commission of South Carolina (PSCSC) as quickly as possible. The companies are continuing to target a July 1 closing date.