Mike Hughes News
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Duke Energy’s decision to dismantle a Florida nuclear power plant rather than undertake the costliest- ever U.S. atomic repair shows how rapidly cheap natural gas is remaking the U.S. power industry, hastening a shift from traditional fuels such as coal and uranium.
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Duke Energy Corp.’s $17.8 billion purchase of Progress Energy Inc. is expected to close on July 2 after a meeting of South Carolina regulators.
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Scana Corp. won U.S. approval to build nuclear reactors, the second construction permit issued by regulators in more than 30 years for units that may be among the nation’s last erected this decade.
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Progress Energy Inc., which is proposing to build nuclear reactors in Florida, may face greater scrutiny and delays than other utilities, due to Japan’s nuclear disaster last year, U.S. Nuclear Regulatory Commission Chairman Gregory Jaczko said.
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The difference between the value of Duke Energy Corp.’s all-stock offer and Progress Energy Inc.’s share price widened after the companies said federal regulators may rule as early as today on a proposal to ease competitive concerns stemming from Duke’s $17 billion acquisition.
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Duke Energy Corp. is postponing seeking a rate increase for its Duke Energy Carolinas utility in North Carolina, its largest market, until the first quarter next year.
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A damaged Florida nuclear plant that spurred a boardroom coup at Duke Energy Corp. in July risks getting scrapped unless the power company can justify spending more than $1.3 billion on the costliest-ever U.S. atomic repair.
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Almost 6 million U.S. homes and businesses were without power as a weakening Tropical Storm Irene moved into New England and utilities began assessing damage in the wake of the storm.
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Duke Energy Corp. will buy Progress Energy Inc. for $13.7 billion in stock, creating the largest U.S. utility and increasing its ability to build new power plants to meet future greenhouse-gas emissions limits.
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Duke Energy Corp. is nearing an agreement to buy Progress Energy Inc. and put Progress Chief Executive Officer William Johnson in charge of what will be the largest U.S. utility, said three people with knowledge of the matter.
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