Duke Energy posted a lower fourth-quarter profit that beat analysts' forecasts and said it was working to obtain federal and state approvals to complete its $13.7 billion merger with Progress Energy. Duke, of Charlotte, N.C., wants to acquire Raleigh, N.C.-based Progress in an all-stock deal that would create the nation's largest utility. The companies last year had hoped to obtain all approvals and close the deal by late December. That month, however, the Federal Energy Regulatory Commission rejected the companies' proposal to ensure that the combined company wouldn't exercise undue influence over the power markets in the Carolinas. In addition to the FERC, the companies need approval for the deal from regulators in North Carolina and South Carolina. Read more: http://www.foxbusiness.com/news/2012/02/16/duke-energy-posts-lower-profit-pursues-progress-merger-approvals/#ixzz1mZZa7zIJ
2012-05-16T14:30:00Z
Installations of wind farms with less than 20 megawatts of capacity may rise to a record this year if lawmakers expand a federal tax credit.
Two big wind development projects on Appalachian ridges in Bedford and Clearfield counties have been canceled, and fewer new turbines will be spinning across the nation next year due to the possible end of a federal tax credit program that has driven development.
The world's most efficient solar cells, a new vaccine against chicken cholera and recycling car tyres to make steel are among the five winning inventions at the inaugural Australian Collaborative Innovation Awards.