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Duke Energy utilities probe hears from 2 directors

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Duke Energy utilities probe hears from 2 directors
Submitted by Fox First at Ten on July 20th

By EMERY P. DALESIO
AP Business Writer

RALEIGH, N.C. (AP) - North Carolina utilities regulators are hearing from a long-time Duke Energy Corp. director with a key role in forcing out the CEO within hours of forming the country's largest electric company.

Ann Maynard Gray testified Friday at the North Carolina Utilities Commission investigation of the aftermath of Charlotte-based Duke Energy taking over Raleigh-based Progress Energy this month.

The commission wants to know why it wasn't told about plans to scrap long-promised CEO Bill Johnson, formerly of Progress Energy.

Gray says Duke Energy's board kept Johnson away after two early personal meetings went poorly. She criticized Johnson for taking months to produce a report on insurance payments for a troubled Florida nuclear power plant.

Duke Energy has 7 million electricity customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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