The acquisition will make CP&L the 10th largest energy provider in the country and could mean lower rates for customers. The trickle-down effects of the merger will be particularly interesting in North Carolina, where the debate on the best way to deregulate the electric utility market continues. Carolina Power and Duke Power Co. have offered proposals to help the state get over the biggest obstacle to deregulation – how to best deal with the $5.5 billion of debt that has been amassed by the state’s municipal power agencies.
NEW YORK, Nov. 14, 2000–Announcing a new emphasis on the energy business, an independent power developer is reporting greater overall earnings, but a net loss of $34.4 million for the third quarter 2000.
