Duke says to close Cinergy deal April 1

The deal has already been approved by shareholders, federal agencies and regulators in four other states.

Duke said the North Carolina commission's order is a modified version of the agreement the company had reached with the state's public staff. The approved agreement includes $117.5 million in merger savings for North Carolina customers and $12 million to various low income, environmental, economic development and other programs.

The merger, announced in May 2005, will create one of the biggest U.S. utilities, with about $70 billion in assets and operations in more than two-thirds of the United States and parts of Canada.

The merged company will have retail electric and natural gas customers in Kentucky, Indiana, North Carolina, Ohio, South Carolina and Canada.