CHARLOTTE, N.C. - Duke Energy today announced that the Federal Energy Regulatory Commission has approved the sale of its non-regulated Midwest Commercial Generation Business to Dynegy for $2.8 billion in cash.
This approval is the last remaining condition to closing the transaction. The transaction is expected to close on April 2, 2015.
The United States Department of Justice and the Federal Trade Commission granted early termination of the Hart-Scott-Rodino Act waiting period on Nov. 10, 2014.
This transaction includes ownership interests in 11 power plants in Ohio, Illinois and Pennsylvania, with a capacity of approximately 6,100 megawatts, and Duke Energy Retail Sales, the companys competitive retail business in Ohio.
Duke Energy is the largest electric power holding company in the United States with approximately $121 billion in total assets. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest. Its commercial power and international energy business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.