N.C. regulators set second, strictly limited, hearing in Duke Energy merger

N.C. regulators will hold a hearing June 25 to allow an environmental group to cross-examine witnesses urging approval of Duke Energy's proposed $26 billion purchase of Progress Energy.

But the N.C. Utilities Commission says the cross-examination will be strictly limited to issues the witnesses for the power companies and the commission?s Public Staff discussed in relation to federal regulators' conditions on the merger.

The N.C. Waste Awareness and Reduction Network has raised several objections to the merger. It contends that measures proposed by Duke and Progress to satisfy the merger concerns outlined by the Federal Energy Regulatory Commission could impose new costs for N.C. ratepayers.

But N.C. WARN also sought to raise new issues in the proceedings. Those included allegations that S.C. regulators may have pressured Duke into making an undisclosed agreement with two S.C. utilities to purchase a share of the V.C. Summer Nuclear Station expansion now under construction. N.C. WARN also said the commission should investigate whether Duke had undertaken a secret ? and highly critical ? study of potential costs to repair Progress? crippled Crystal River plant in Florida.

?The commission finds that N.C. WARN has not shown good cause to be allowed to present additional testimony? in this proceeding, the order setting the hearing says. If the group wants to take up additional issues, it must petition separately for the commission to take up those matters.

Duke and Progress had filed their response Tuesday to the objections lodged by N.C. WARN and others involved in the proceedings had filed to the merger.They had argued there was no need for a second hearing. They contended that the issues brought up by N.C. WARN and others had been dealt with already, were irrelevant to the merger or were essentially speculative and without substance.

John Downey covers the energy industry and public companies for the Charlotte Business Journal.

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