✍ Scribed by Maschoff, Dean C.
No coin nor oath required. For personal study only.
Eve y day we get up and say, "Hey, what should our company be more open-minded to?" -Bill Gates, Chairman and CEO, Microsoft Corporation' n a move that would have been unimaginable I a few years ago, on November 25, 1996, Duke Power Company announced plans to acquire PanEnergy Corporation in a stock transaction worth about $7.7 billion. If approved, Duke Energy, as the new company is to be called, will have 22,000 employees worldwide with annual revenues of about $6.5 billion. William Grigg, chairman and chief executive officer of Duke Power, said that the Duke/ PanEnergy merger will create the "preeminent provider of energy and energy services in North America."2
This article analyzes the Duke/PanEnergy gaselectric combination and identifies several "lessons learned" for other energy companies that intend to compete with an enterprise like the new Duke Energy and take advantage of the emerging energy services marketplace opportunities.
Considered a low-cost utility, Duke Power serves about 1.
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