Duke Energy Corp. has requested approval to merge its electric utility subsidiaries in North and South Carolina. The company says this move could save customers over $1 billion over a decade.

Duke Energy is asking state and federal regulators to approve to a merger of its two utility companies providing power to the Palmetto and Tar Heel states. To get South Carolina regulators to agree, the utility company proposes shuffling money around between customer groups to prevent potential sticker shock to its electric customers in the

Combining Duke Energy Carolinas and Duke Energy Progress would lead to more efficient system planning and operations, according to the company.