WASHINGTON, DC – Congressman G. K. Butterfield (NC-01) today released the following statement concerning Duke Energy Progress’s announcement that it is in discussions to buy the North Carolina Eastern Municipal Power Agency’s (NCEMPA) partial ownership of its plants:
“I’m pleased to learn that Duke Energy Progress is considering the purchase of a partial ownership interest in plants that provide energy to my congressional district. The ratepayers in the cities served by NCEMPA have been burdened with high utility costs and trapped in a power deal that requires them to pay more than consumers in other communities. I have worked tirelessly over the years to find a common sense solution to high utility cost and this announcement brings hope that a deal can be structured that will reduce the cost of utilities for families and businesses in eastern North Carolina. The merger of Duke Power and Progress Energy results in a new corporate entity that should be capable of purchasing the assets of NCEMPA and restructuring the debt.
“I will support a common sense business arrangement that will substantially lower utility costs for consumers and will oppose it if it does not.
“I appreciate the willingness of Duke Energy Progress to begin these discussions and pledge to them my support for a meaningful reorganization.”