Duke Energy In Discussions To Buy Some Generating Assets From NCEMPA

(RTTNews) - Duke Energy Corp. (DUK) Monday said Duke Energy Progress and the North Carolina Eastern Municipal Power Agency or NCEMPA have entered into exclusive discussions regarding the potential purchase by Duke Energy Progress of NCEMPA's ownership in certain generating assets. No definitive agreement has been reached.

The NCEMPA maintains partial ownership interests in several Duke Energy Progress plants, including Brunswick Nuclear Plant Units 1 and 2, Mayo Plant, Roxboro Plant Unit 4 and the Harris Nuclear Plant.

NCEMPA ownership in these plants represents around 700 megawatts of generating capacity. NCEMPA members' distribution assets are not part of these discussions.

If a potential agreement is reached, Duke Energy Progress and NCEMPA will enter into a wholesale power contract to continue meeting the needs of NCEMPA customers currently served by the Power Agency's interest in Duke Energy Progress' plants.

Duke Energy noted that any potential transaction would take months to complete.

DUK closed down 0.2 percent on Monday at $70.46.