This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Duke Energy Completes Merger-related Transmission Line Projects

CHARLOTTE, N.C., July 2, 2014 /PRNewswire/ -- Duke Energy, on the second anniversary of its merger with Progress Energy, today announced it has completed and placed into service eight transmission line expansion projects it committed to undertake in North Carolina as a condition of federal approval of the July 2, 2012 merger.
New Duke Energy logo.

Duke Energy built the projects to mitigate the Federal Energy Regulatory Commission's merger-related market competition concerns in the state.

"We completed the projects at a cost of $84 million$26 million below our original $110 million estimate – and put them into service a year ahead of federal regulators' June 1, 2015 deadline," said Duke Energy's chief transmission officer, Caren Anders.

Seven of the projects are located in the company's Duke Energy Progress service area. One is in the Duke Energy Carolinas service area.

The transmission line projects significantly increase electricity import capabilities in the two service areas, enhancing competitive power supply options in the state.

Duke Energy now can end temporary electricity sales to three outside power trading companies, which also had been required as a condition of federal merger approval.

Since the merger, Duke Energy has produced approximately $300 million in cumulative savings for North Carolina and South Carolina customers, through May 31, 2014, as a result of fuel savings and the combined operation of the Duke Energy Carolinas and Duke Energy Progress power plant fleets.

Duke Energy passes those savings on to customers in the two states through electric rate fuel clauses, adjusted annually.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs