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Monday, February 17, 2014

CORRECTED-Duke Energy to exit Midwest commercial generation business, (NYSE: DUK)

U.S. power company Duke Energy said it was looking to sell its Midwest commercial generation business including 13 power plants.The company said it would record a pretax impairment charge of $1 billion to $2 billion in the first quarter related to the sale."Our merchant power plants have delivered volatile returns in the challenging competitive market in the Midwest," Chief Executive Lynn Good said in a statement.She said the regulated utilities in Ohio and Kentucky were not a part of this strategic process. (Reporting By Kanika Sikka in Bangalore; Editing by Don Sebastian)

Duke Energy Corporation (Duke Energy) is an energy company. Shares of DUK traded higher by 0.03% or $0.02/share to $71.45. In the past year, the shares have traded as low as $64.16 and as high as $75.46. On average, 2958720 shares of DUK exchange hands on a given day and today's volume is recorded at 2940206.