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Duke Energy, post-Cinergy


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On May 9, 2005, Cinergy and Duke Energy announced a merger to create an energy company with approximately $36 billion in market capitalization, assets totaling more than $70 billion, and 5.4 million retail electric and gas customers.

Paul Anderson will maintain his position as Chairman of the Board, and continue to buy utilities. He's stated that he wants Duke Energy to become the Bank of America of the utility world. Having such an aggressive stance will surely put the company into a space crunch.

I remember when the merger was announced in May, an employee of Duke Power said that they were looking at buying the Coliseum and turning it into a huge office. I suppose they've been looking for space, and if they continue to grow they'll need it.

Isn't it great having such strong-willed individuals in charge of our North Carolina companies? Yeah, it is...

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The article says that the merger rumors are strictly hypothetical and there have also been the same scuttlebutts flying about a Progress - Southern Company merger as well. One thing it did mention, is that if this does go through, and after a year or two of regulatory committees, either Raleigh or Charlotte would lose a HQ and jobs would be cut.

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