Federal regulators to audit Duke Energy’s merger - Charlotte Business Journal

John Downey

Senior Staff Writer- Charlotte Business Journal

The Federal Energy Regulatory Commission has told Duke Energy Corp. (NYSE:DUK) that it will audit the company for compliance with the conditions regulators set for its July 2012 merger with Progress Energy Inc.

The audit will go back to Jan. 1, 2011, days before the two companies announced the merger. The audit also will cover general tariff and accounting requirements and basic financial and operating reports that Charlotte-based Duke and its subsidiaries, including Progress, make to the commission.

FERC spokesman Craig Cano says “there is nothing uncommon” about the notice sent Duke and that such audits are routine after mergers.