Duke Energy CEO Apologizes To Regulator Over Probe

RALEIGH, N.C. (AP) – The head of America’s largest electric company says he regrets that Duke Energy officials went too far in criticizing North Carolina regulators responsible for setting rates in its top power market.

The North Carolina Utilities Commission required Duke Energy to admit it fell short of its obligations as a regulated utility. The letter by CEO Jim Rogers released on Tuesday was part of a settlement ending the commission’s probe into whether a surprise CEO switch misled regulators.

Another executive was promised as CEO after Charlotte-based Duke’s takeover of Progress Energy, but was dumped hours after the merger closed in favor of Rogers.

Rogers says the company also regrets criticizing the commission’s investigation. Rogers said last month unless regulators treated Duke Energy properly, its headquarters might not stay in North Carolina.