News14.com

  83º

You are not signed in  |  Sign in here  |  Help

You're viewing a lite version of news14.com

Time Warner Cable customers: Sign in with your TWC ID for video access.

Get my TWC ID. | Get TWC service. | Read the FAQ.

07/17/2012 10:45 AM

NC Utilities Commission to hire outside firm to investigate Duke-Progress merger

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

RALEIGH -- The N.C. Utilities Commission will likely hire outside investigators to look into the Duke Energy-Progress Energy merger.

The head of the commission's public staff, which represents consumers, says the body could hire an out-of-state law firm.

Commissioners are probing the ouster of Bill Johnson, who was supposed to be CEO of the combined company. Duke directors fired Johnson after 20 minutes on the job.

The utilities commission is looking for investigators with experience in corporate governance issues and who have no ties to Duke or Progress.