FERC Easily Approves Second Convergence Combo
Marking the second time it had approved a union between an electric utility and a natural gas pipeline company since issuance of its December 1996 merger policy, the Federal Energy Regulatory Commission has approved the merger of Duke Power Co. with PanEnergy Corp.
In its 21-page order issued May 28, the FERC found the merger consistent with the public interest based on an examination of the effect it would have on rates, competition and regulation (Docket No. EC97-13-000).