Duke Energy CEO James Rogers says he is trying to do the best for customers and investors. Well, I may not be the sharpest tack in the box, but somebody will have to explain how that is possible.
The $32 billion merger caused him concern, but he went through with it anyway – no wonder. He laid off or retired 1,860 positions (Aug. 18 news story). He cut the dividend rate of Progress Energy and Duke after the merger and now wants a big increase in electric rates.
I fail to see how this in anyway is good for either of them. The N.C. Utilities Commission and the federal board should reverse the merger and restore faith to the general public. After all it is supposed to be a public utility.
W. H. Hamilton