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Duke, Progress merger gets federal go-ahead
After two failed attempts, Progress Energy and Duke Energy have conditional federal permission to merge, a move that would create the nation's largest utility.
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RALEIGH, N.C. — After two failed attempts, Progress Energy and Duke Energy have conditional federal permission to merge, a move that would create the nation’s largest utility.
The Federal Energy Regulatory Commission gave conditional approval Friday to the utilities' proposed the $35 billion deal which would cost jobs, but save consumers money, according to documents filed with the FERC.
A Progress Energy spokesman said the move was pleasing, and that the companies would be working to secure state approval to close the deal.
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