RALEIGH, N.C. (AP) — North Carolina utilities regulators say they will continue their investigation into whether they were misled by executives and directors assembling the country's largest electric company.
The North Carolina Utilities Commission ended three days of hearings Friday. Commission Chairman Edward Finley says the investigation continues with documents demanded from Duke Energy Corp. by the end of the month.
The regulator is looking into testimony that directors for Charlotte-based Duke Energy considered for months dumping the long-promised CEO after Duke Energy's takeover of Raleigh-based Progress Energy. They didn't tell regulators until the deal closed July 2
Finley says the integrity of the utilities regulatory body is at stake. He says Duke can question witnesses if regulators are considering penalizing the company.
A settlement between the company and its regulator is also possible.
