Charlotte-based Duke Energy Corp. and Progress Energy Inc. have completed their merger now valued at about $32 billion to form the nation’s largest electric company. Duke CEO Jim Rogers, has been named CEO of the new company. 
The combined company will serve about more than 7 million customers in North Carolina, Kentucky, Ohio, Indiana, Florida and South Carolina. Duke Energy’s more than $100 billion in assets include power plants in Central America and South America and a growing portfolio of wind and solar renewable energy projects in the U.S.Adding Progress Energy’s regulated markets in the Carolinas and Florida increases the new company’s percentage of revenues from regulated electricity sales, a business in which profits are controlled by state regulators but largely assured. About 85 to 90 percent of the combined company’s revenues will come from its regulated business, compared to about 75 percent for Duke Energy before the merger. (Wash Post, 7/3/2012)
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