December 3, 2012 / 5:36 PM / in 5 years

Duke Energy says North Carolina regulator approves settlement

(Reuters) - North Carolina’s utility regulator on Monday gave full approval to a settlement with Duke Energy Corp over the company’s leadership plans following its takeover of Progress Energy, Duke said.

The settlement with the North Carolina Utilities Commission includes a firm end-2013 departure date for Duke Chief Executive Jim Rogers, and provisions to guarantee Duke employment in the state and savings for its customers there.

The agreement was orally approved on Monday, Duke said. “The settlement agreement resolves all matters related to the NCUC investigation,” the company added in a statement.

Reporting by Braden Reddall in San Francisco; editing by John Wallace

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