South Carolina

Duke Energy Seeks to Become Largest U.S. Electric Utility

Citing the need to streamline costs related to replacing old infrastructure with a smart grid, Duke Energy Corp. and Progress Energy have filed applications seeking regulatory approval for their proposed merger. If approved, Duke Energy reports the merger will create the United States’ largest electric utility, “as measured by enterprise value, market capitalization, generation assets, customers and numerous other criteria.” The combined company will have more than 7.1 million electric customers in six states—North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky—and the largest regulated nuclear fleet in the country.