NC regulators clear hurdle to Duke-Progress merger

RALEIGH, N.C. (AP) — North Carolina utilities regulators on Friday approved the long-planned takeover of Progress Energy by Duke Energy, clearing the last major hurdle to creating the largest American electric company.

The combined company will serve about 3 million customers in North Carolina and 4 million more in Kentucky, Ohio, Indiana, Florida and South Carolina. South Carolina regulators still must approve the merged company's plan for operating its combined electrical generation system, but they are not weighing in on the merger. They have scheduled a meeting Monday.