Agreement by Energy Companies to Retire Coal-Fired Plants Clears Way for Merger

摘要

Duke Energy and Progress Energy have agreed to retire 3,000 megawatts of coal-fired generating capacity by the end of 2015 as part of a settlement with environmental groups announced Dec. 12 that clears the path for the two companies to merge operations. The settlement agreement with the Environmental Defense Fund, South Carolina Coastal Conservation League, and Southern Alliance for Clean Energy also requires the companies to donate $2 million to clean energy development and improve energy efficiency by 7 percent of retail electricity sales by 2018. The settlement addresses concerns raised by environmental groups with the proposed merger in South Carolina Public Service Commission proceedings.