Feb 17 U.S. electric power company Duke Energy
Corp said on Monday that it was looking to sell off its
Midwest commercial generation business, including stakes in 13
power plants, saying they offered "volatile returns" in a
Duke will keep its regulated utilities in Ohio and Kentucky,
and will try to sell its merchant power plants, with a total
capacity of about 6,600 megawatts, as a package, a spokesman
"This earnings profile is not a strategic fit for this Duke
Energy and we have begun a process to exit it," Chief Executive
Lynn Good said in a statement.
Eleven of the plants Duke is planning to sell are in Ohio,
one is in Illinois and another is Pennsylvania.
The company will record a pretax impairment charge of $1
billion to $2 billion in the first quarter of 2014 related to
Duke expects the process to take between 12 and 18 months
and is being advised by Citigroup Inc and Morgan Stanley