RALEIGH, N.C. (Legal Newsline) -- North Carolina Attorney General Roy Cooper's office has reached a settlement with Duke Energy after the firing of former executive Bill Johnson.
Cooper's office announced the settlement Monday. Terms weren't available, but the Charlotte Business Journal reported that Duke Energy will pay Cooper's office $250,000 in legal fees.
In related news, the North Carolina Utilities Commission on Monday also approved its settlement with Duke that will see current Duke CEO Jim Rogers retire in 2013 and have two other executives replaced.
Both had been investigating whether Duke misled officials when it said Johnson, who was the CEO of Progress Energy, would run Duke when it merged with Progress. When the deal became official July 2, the Duke board replaced Johnson with Rogers.
The CEO switch also led to shareholder lawsuits.
"These settlements are positive for consumers and help to set right the problems surrounding the merger," Cooper said in a statement. "As we continue our fight for lower rates in the Supreme Court and before the commission, these settlements will provide a framework for ensuring more complete and accurate information from Duke Energy in the future."
Duke officials will meet regularly with representatives of Cooper's office about electric rates, customer service and environmental issues.
N.C. AG settles with Duke Energy
