Duke Energy Corp. has just filed with state and federal regulators to seek approval for the largest utility consolidation in the nation. The company claims that the move would deliver $1 billion in savings, but the proposal also raises questions about rates, competition, and oversight.

Duke Energy Carolinas and Duke Energy Progress currently operate separately but serve nearly 5 million customers across North and South Carolina. Duke argues that combining the two utilities would allow for more efficient planning and eliminate duplicative investments. By sharing infrastructure and operating costs across a larger base, the company says customers would see moderated rate increases and a more reliable grid.

The company also claims the merger would improve efficiency. A combined system could

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