On April 14, 2012, Duke Energy Corporation (“Duke Energy”) and Progress Energy, Inc. (“Progress Energy”) submitted their response to FERC’s April 10, 2012 request for additional information regarding the companies’ proposed merger. Duke Energy and Progress Energy described the additional data submission as mostly “re-formatting” of information previously submitted to the Commission. FERC requested additional information regarding the companies’ proposal to mitigate market power screen failures through the addition of seven transmission expansion projects.
The Commission asked for more information on the models and studies the applicants relied on to evaluate the effect of the proposed transmission expansion projects on the Duke-Progress market area. Applicants have requested Commission approval of the Duke-Progress merger by June 8, 2012 in order to close the transaction on or before the July 8, 2012 termination date established in the companies’ merger agreement.