Yesterday shareholders of Duke Energy Corp. and Progress Energy Inc. separately approved the proposed merger of the two utilities to form the largest electric power utility in the US with 7.1 million electricity customers in six states and nearly 60 GW of nuclear, coal and natural gas generation capacity. The Duke Energy-Progress Energy merger would create the largest U.S. utility by market capitalization, number of customers and energy generation capacity. The merger still requires approval from the Federal Energy Regulatory Commission (FERC), the Nuclear Regulatory Commission (NRC) and two state public utility commissions.
Duke Energy, headquartered in Charlotte, NC, supplies electric power to 4 million U.S. customers and has 35 GW of electric generating capacity in the Carolinas and the Midwest. It also has holdings overseas including Brazil.
Progress Energy, headquartered in Raleigh, N.C., has 22 GW of generation capacity and serves 3.1 million customers in the Carolinas and Florida.
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