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Energy Transfer (NYSE: ET) has had a strong 2024, with its stock price up about 40% as of this writing. Energy Transfer has created one of the largest integrated midstream systems in the U.S. It ...
Prior to its merger with Duke Energy, it was a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. Headquartered in Raleigh, North Carolina , Progress Energy includes two major electric utilities that serve approximately 3.1 million customers in the Carolinas and Florida .
Per the merger agreement between Progress and Duke, he was slated to become CEO of the new combined company. Within an hour after the merger closed, he was removed as CEO by the new board, the majority of whom were legacy Duke Energy board members. [9] The Los Angeles Times estimated that Johnson received $44 million as severance pay. [10]
In July 2004, Duke Energy agreed to pay $208M to settle allegations that it had engaged in price gouging in California during the energy crisis of 2000 and 2001. [ 59 ] In December 2009, Duke Energy agreed to spend approximately $93M to resolve violations of the Clean Air Act.
In 2002, Duke Energy acquired Westcoast Energy, a Canadian corporation, which owned Chatham, Ontario-based Union Gas, regulated under the 1998 Ontario Energy Board Act.. On December 29, 2006 Standard & Poor's added Spectra Energy Corp. to its S&P 500 Index, replacing Parametric Technology Corp. (Nasdaq: PMTC), a software company, which then moved to the S&P MidCap 400 list instead. [5]
Even North Carolina’s small electric cooperatives are at the whims of the company: their largest source of power, the Catawba Nuclear Station in South Carolina, is operated by Duke Energy.
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Duke Energy completed repairs on substation equipment damaged in shootings over the weekend on Wednesday and restored power to all but a fraction of the thousands of customers who lost electricity ...