Duke Energy may buy NC city shares of power agency - WNCN: News, Weather

Duke Energy may buy NC city shares of power agency

Posted: Updated:
RALEIGH, N.C. (AP) - Duke Energy says it's negotiating to buy ownership in nuclear and coal-burning electric power plants that have saddled more than 30 eastern North Carolina municipalities with high electric bills to pay off construction costs.

Duke Energy said Monday that an operating subsidiary is negotiating with the North Carolina Eastern Municipal Power Agency about buying out its share of power plants owned by the former Progress Energy. Duke Energy bought Progress Energy in 2012.

Duke Energy said in a prepared statement that any deal would take months to negotiate and gain regulatory approval. Duke Energy last week dropped its bid to buy up to 10 percent of a South Carolina nuclear power plant from that state's publically owned utility after more than two years.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • BusinessMore>>

  • Social Security's $300M IT project doesn't work

    Social Security's $300M IT project doesn't work

    Friday, July 25 2014 2:15 PM EDT2014-07-25 18:15:48 GMT
    After spending nearly $300 million on a new computer system to handle disability claims, the Social Security Administration still can't get it to work. And officials can't say when it will.
    After spending nearly $300 million on a new computer system to handle disability claims, the Social Security Administration still can't get it to work. And officials can't say when it will.
  • US wildlife officials propose limiting snake trade

    US wildlife officials propose limiting snake trade

    Friday, July 25 2014 2:05 PM EDT2014-07-25 18:05:35 GMT
    Federal wildlife officials recently proposed strict nationwide limits on importing and shipping boa constrictors and four other snake species in an effort to prevent them from being introduced into the wild.
    Federal wildlife officials recently proposed strict nationwide limits on importing and shipping boa constrictors and four other snake species in an effort to prevent them from being introduced into the wild.
  • Visa, Amazon pull stock market lower

    Visa, Amazon pull stock market lower

    Friday, July 25 2014 1:52 PM EDT2014-07-25 17:52:35 GMT
    U.S. stock futures headed lower early Friday as a handful of big companies posted weaker results than Wall Street expected. Amazon's shares sank after it posted a quarterly loss.
    Disappointing results at Visa and Amazon dragged on the stock market Friday, and put two major indexes on course for a weekly loss.
  • Events Calendar

Powered by WorldNow

1205 Front St., Raleigh
N.C., 27609

Telephone: 919.836.1717
Fax: 919.836.1687
Email: newstips@wncn.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.