$32bn merger creates largest energy utility in the US

Having received final approval in South Carolina, the merger of Duke Energy with Progress Energy this week has created the largest electrical utility in the United States.

The deal means the new entity, which will still be called Duke Energy will cater for 7.1 million customers in six states in the American Southeast and Midwest.

The combined company has now surpassed Exelon as one of the largest nuclear reactor operators. Duke also has power plants in Latin America and operates wind and solar projects throughout the US.

The new company will retain headquarters in Charlotte, with substantial operations in Raleigh, North Carolina, and the newly constituted board elected Jim Rogers as president and CEO.

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