In a move that would create the largest utility in the United States, Charlotte, N.C.-based Duke Energy and Raleigh, N.C.-based Progress Energy announced on Jan.10 that they plan to complete a $13.1-billion all-stock merger before the end of the year. The combined company, to operate as Duke Energy, would have more than seven million electric customers and 57.2 GW of company-owned electric generation. Duke Energy operates in the Carolinas, Indiana, Kentucky and Ohio, and Progress Energy operates in the Carolinas and Florida. In a conference call on Jan.10, company executives said the move would improve both companies’ ability to fund
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.