RALEIGH, N.C. — Federal energy regulators say the merger of Duke Energy and Progress Energy to create the country’s largest electric company must include sweeping changes to protect competition in the Carolinas.
Duke Energy spokesman Tom Williams said Sunday the company is evaluating the order issued by the Federal Energy Regulatory Commission late Friday.
Federal regulators conditionally approved Charlotte-based Duke Energy’s purchase of Raleigh-based Progress Energy, but told the two electric companies to propose solutions within 60 days that would protect competition in North Carolina and South Carolina.
The agency suggested that remedies could include selling off power plants, building new transmission lines or joining a regional transmission authority.
U.S. incomes fall for first time in nearly 2 years
Americans earned less last month, the first decline in nearly two years. With less income, consumers could cut back on spending and weaken an already-fragile economy.
Consumers spent more in August, but their pace slowed from the previous month. Most of the increase went to pay higher prices for food and gas. When adjusted for inflation, spending was flat. Many people tapped their savings to cover the steeper costs. The savings rate fell last month to its lowest level since December 2009.
Consumer spending rose 0.2 percent last month, after growing 0.7 percent in July, the Commerce Department said Friday. Incomes fell 0.1 percent, which was the first decline since October 2009.
From wire dispatches and staff reports
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