Duke Energy (NYSE: DUK) is getting more time to respond to a North Carolina Utilities Commission (NCUC) order to make public several thousand pages of documents that NCUC says don’t merit “trade secret” protection.
Facing an Oct. 29 deadline to make the documents public, Duke filed a motion Oct. 25 seeking a seven-day extension, until Nov. 5. NCUC approved Duke’s request the same day.
NCUC called for massive disclosure of documents Oct. 19. Duke has sought to keep many documents under seal in connection with the NCUC investigation of Duke’s July merger with Progress Energy.
NCUC had been caught off guard when the executive that was scheduled to become CEO of the merged company, ex-Progress Energy CEO Bill Johnson, was forced to resign only hours after the merger was consummated.
The NCUC said it is not convinced that many of the documents at issue should be considered a trade secret. The NCUC said it is not persuaded that any person or business would benefit economically from the disclosure of the information.
Duke said it needs the seven additional days to sift through all the documents and determine if it should file some type of appeal. The commission’s public staff has been consulted and does not object to the time extension, Duke said in its motion.
The commission’s investigation into the conduct of the merger is Docket No.E-7, Sub1017.