Duke Energy Buying Progress Energy

This seems to impact mainly the power regions of the eastern US, mention is made of nuclear power generation.  What, if any, impact could/would this have on ng's share of the power generation market, especially for HS gas that may be headed toward that/those market(s)?

 

http://www.nypost.com/p/news/business/duke_energy_buying_progress_e...=

 

"Duke Energy Corp. is buying Progress Energy Inc. for more than $13 billion in stock in a deal that would create one of the nation’s largest utilities.

The transaction announced Monday by the two North Carolina companies would create a business with about 7.1 million electric customers in North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio.

It would also have a sizable nuclear energy business."

 

thanks in advance for any thoughts,  80)

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Permalink Reply by Les Bamburg on January 10, 2011 at 8:53

Sesport, here is another link with additional details.  I do not believe it will have any near term impact on natural gas consumption as these type deals are primarily about costs savings.  Both entities operate gas fired generation in addition to nuclear (and coal?).

 

http://www.duke-energy.com/progress-energy-merger/?promo=duke-progr...

 

 

 

Permalink Reply by sesport on January 10, 2011 at 13:30

Thanks, Les & Electro

 

I went to locate some kind of info about all the fuels each company uses, but it looks like it's available piecemeal.  I found this for the Carolinas, and it looks like coal is still being used, though I'm not sure for how much longer until those plants are retired.  My ears perked up a little when Indiana was mentioned, it being right next door to Illinois and it's nuclear power.

 

http://www.duke-energy.com/pdfs/Biomass-Fuels-RFI-2009-Final.pdf

 

By the looks of that pdf, trees are the thing ... biomass.

 

80)

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