Paul Newton, Duke Energy's president for its North Carolina operations, said the agreement will also benefit his company's customers through long-term fuel savings that help keep rates affordable.
"We have been providing electric service to North Carolina Eastern Municipal Power Agency members for more than 100 years, and we look forward to beginning this new chapter in our ongoing commitment to the communities of eastern North Carolina," Newton said.
Duke Energy acquired Progress Energy in a 2012 mega-merger that made the combined corporation the largest electricity company in the United States. Duke, which has its headquarters in Charlotte, has more than 7.2 million retail customers in the Carolinas, Ohio, Indiana, Kentucky and Florida.
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