Duke Energy Corp. (DUK: Quote) said in a regulatory filing on Monday that the company and Progress Energy, Inc. (PGN: Quote) has made a joint compliance filing with the Federal Energy Regulatory Commission or FERC, accepting all conditions given in FERC's June 8 order related to their merger.
The order conditionally approved the Second Wholesale Market Power Mitigation Plan, the Joint Dispatch Agreement and the Joint Open Access Transmission Tariff of the companies in connection with their proposed merger.
The companies continue to work to secure final merger-related approvals from the North Carolina Utilities Commission and the Public Service Commission of South Carolina, the filing added.
July 1 is the target for the closing of the merger.
DUK settled on Monday at $22.93, up 0.22 percent from the previous close, on a volume of 14.78 million shares.
PGN closed at $59.72, up 0.23 percent, on 2.07 million shares.
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by RTT Staff Writer
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