FERC approves Dynegy to acquire Duke’s Midwest generation assets

Source:Duke Energy

FERC approves the sale of Duke Energy's non-regulated Midwest generation business to Dynegy (AP Photo/David J. Phillip, File)

Duke Energy (NYSE: DUK) has announced that the Federal Energy Regulatory Commission (FERC) has approved the sale of its non-regulated Midwest Commercial Generation Business to Dynegy (NYSE: DYN) 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 fossil-fueled power plants in Ohio, Illinois and Pennsylvania, with a capacity of approximately 6,100 megawatts, and Duke Energy Retail Sales, the company’s competitive retail business in Ohio.

The following is an alphabetical listing of the 11 power plants being sold:

Conesville Station (coal), located in Conesville, Ohio. Partially owned by DP&L and AEP.

Dicks Creek (natural gas), located in Middletown, Ohio. Wholly Duke owned.

Fayette Energy Facility (natural gas), located in Masontown, Pa. Wholly Duke owned.

Hanging Rock Energy Facility (natural gas), located in Ironton, Ohio. Wholly Duke owned.

Killen Station (coal), located in Wrightsville, Ohio. Partially owned by DP&L.

Lee Energy Facility (natural gas), located in Dixon, Ill. Wholly Duke owned.

Miami Fort Station (coal) Units 7 & 8, located in North Bend, Ohio. Partially owned by DP&L.

Miami Fort Station (oil), located in North Bend, Ohio. Wholly Duke owned.

Stuart Station (coal), located in Aberdeen, Ohio. Partially owned by DP&L and AEP.

Washington Energy Facility (natural gas), located in Beverly, Ohio. Wholly Duke owned.

Zimmer Generating Station (coal), located in Moscow, Ohio. Partially owned by DP&L and AEP.

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