Justice Orr weighs in on Duke/Progress merger probe by regulators |
Written by Bruce Ferrell/David Horn
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Monday, 23 July 2012 11:08 |
(RALEIGH) -- Former State Supreme Court Chief Justice Robert Orr is offering his view on the investigation by utility regulators into the merger of Duke Energy and Progress Energy after the CEO of the former Progress was abruptly fired shortly after the merger.
Orr said the Utilities Commission is supposed to look after the interest of the consumer. "Not shareholders necessarily, not the executives, not the board but in the best interest of the public and information was provided to them in the process of this request to approve the merger about the leadership that would be involved in the new merged Duke/Progress Energy entity," said Orr.
It was planned that former Progress Energy CEO Bill Johnson would become the CEO of the merged company. Johnson was let go shortly after the merger was completed and replaced with former Duke CEO Jim Rogers.
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Last Updated on Thursday, 26 July 2012 00:00 |