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Highlands to review Duke Energy contract amendment tied to pending merger; decision deferred
Summary
Town officials heard an explanation of a proposed amendment to Highlands’ wholesale power contract tied to a pending Duke Energy merger and agreed to review the 45-page amendment before taking final action at the next meeting.
Mayor Pat invited representatives from UTEC and Duke Energy to explain proposed changes to the town’s wholesale power contract after Duke filed for a merger. Louis Davis of UTEC and Richard Knight, a Duke representative, told the board the amendment contains a "reorganization amount" intended to keep Highlands financially whole through the contract years affected by the merger forecast.
Richard Knight said Duke has…
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