CHARLOTTE, N.C. (AP) — Duke Energy Corp. says its move to combine electric utility subsidiaries in North and South Carolina into one entity could save customers more than $1 billion over a decade.

The Charlotte-based utility said it formally asked federal and state regulators on Thursday for permission to join together Duke Energy Carolinas and Duke Energy Progress , which have several million customers. The savings would come in part from streamlining operations and spreading out infrastructure expenses.

The two entities have operated separately since the 2012 merger of Duke Energy and Raleigh-based Progress Energy. Duke Energy, which likens the request to moving two company divisions into one, said in a news release that it wants the change to be effective Jan. 1, 2027.

The

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