Flickr User: Duke Energy

Regulators are ready to give the final approval for a deal that would create the largest electric company in the United States. 

The deal, a take over of Progressive Energy by Duke, would serve about 7 million customers in S.C., N.C., Kentucky, Ohio, Indiana, and Florida. 

via Duke Energy's website:

The merger creates the largest U.S. utility with the strength to meet the region's energy needs reliably, affordably and in an environmentally responsible manner. The combined company will maintain and expand both companies' histories of community support, investment and commitment.

Acording to Duke, the combination of companies will deliver future savings from streamlining corporate services and enabling better access to financial markets to mitigate rising electricity prices.; additionally, $650 million in guaranteed savings for Carolinas customers from fuel and joint dispatch

More details can be found over at WPDE News Channel 15.