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Duke Energy US26441C2044

Duke Energy Progress To Buy NCEMPA Generation Assets For $1.2 Bln

07/28/14

WASHINGTON (dpa-AFX) - THe boards of Duke Energy Progress and the North Carolina Eastern Municipal Power Agency or NCEMPA have approved an agreement for Duke Energy Progress to purchase the Power Agency's ownership in certain generating assets.

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Currently, NCEMPA maintains partial ownership stake in several Duke Energy Progress plants, including Brunswick Nuclear Plant Units 1 and 2 (Brunswick County), Mayo Plant (Person County), Roxboro Plant Unit 4 (Person County) and the Harris Nuclear Plant (Wake County).

The Power Agency's ownership interest in these plants represents nearly 700 megawatts of generating capacity. The purchase price for NCEMPA's ownership interest in the plants, fuel inventories, and spare parts inventory is $1.2 billion. NCEMPA members' distribution assets are not part of the deal, and would continue to be owned and maintained by those members.

As part of the agreement, Duke Energy Progress and NCEMPA would sign a 30-year wholesale power supply agreement to continue meeting the needs of NCEMPA customers currently served by the Power Agency's interest in Duke Energy Progress' plants.

Copyright RTT News/dpa-AFX


                                                                                                                        

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