Duke Energy Sells Non-Regulated Midwest Generation Business for $2.8B
Dynegy is buying Duke Energy’s non-regulated Midwest Commercial Generation Business for $2.8 billion in cash, which includes ownership interests in 11 power plants and Duke Energy Retail Sales, the company’s competitive retail business in Ohio.
Duke says the transaction is part of its strategy to exit the merchant generation business.
The completion of the transaction is conditioned on regulatory approvals but is expected to occur in three to six months.
The Midwest generation business includes 11 merchant power plants with a capacity of about 6,100 MW. The plants are dispatched into the PJM wholesale power market. Nine of the power plants are located in Ohio, one is in Illinois and one in Pennsylvania. Dayton Power & Light and American Electric Power’s ownership interest in some of the power plants is not included in this transaction.
The Duke Energy Ohio and Kentucky and Duke Energy Indiana regulated utilities are not a part of the transaction.
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