FERC approves $2.8B deal for Dynegy to acquire Duke Energy's non-regulated Midwest generation business

 FERC approves $2.8B deal for Dynegy to acquire Duke Energy's non-regulated Midwest generation business

Federal Energy Regulatory Commission (FERC) has approved the sale of Duke Energy’s (NYSE: DUK) non-regulated Midwest Commercial Generation Business, for $2.8 billion in cash, to Dynegy.

This transaction includes ownership interests in Duke Energy Retail Sales, the company's competitive retail business in Ohio, as well as 11 power plants — with a capacity of approximately 6,100-MW — in Ohio, Illinois and Pennsylvania. The plants are all dispatched into the PJM wholesale power market.

The power plants include:

* Conesville coal-fired station, located in Conesville, Ohio.

* Dicks Creek natural gas facility, located in Middletown, Ohio.

* Fayette natural gas energy facility, located in Masontown, Pennsylvania.

* Hanging Rock natural gas energy facility, located in Ironton, Ohio.

* Killen coal-fired station, located in Wrightsville, Ohio.

* Lee Energy natural gas facility, located in Dixon, Illinois.

* Miami Fort coal-fired station Units 7 & 8, located in North Bend, Ohio.

* Miami Fort oil station, located in North Bend, Ohio.

* Stuart coal-fired station, located in Aberdeen, Ohio.

* Washington natural gas energy facility, located in Beverly, Ohio.

* Zimmer coal-fired generating station, located in Moscow, Ohio.

The approval represents the last remaining condition to close the transaction, which is expected to close on April 2, 2015.

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