The two Duke Energy utilities serving North Carolina announced Thursday they will pursue state and federal regulatory approval to merge as early as Jan. 1, 2027.

Duke Energy Carolinas, which covers the Triad, and Duke Energy Progress have operated as separate subsidiaries since the 2012 merger of Duke Energy and Progress Energy.

Duke Energy Carolinas serves 2.9 million residential, commercial and industrial customers largely in the western part of the state. Duke Energy Progress serves 1.8 million customers, primarily in the eastern part of the state, including Raleigh.

The utilities said in a joint news release that merging could save customers between $1.6 billion and $3.2 billion through 2038.

If the merger is approved by the N.C. Utilities Commission, the Public Service Commission

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