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Monday, February 17, 2014

Duke Energy to sell U.S. Midwest commercial generation business, (NYSE: DUK)

U.S. electric power company Duke Energy Corp said on Monday that it was looking to sell off its Midwest commercial generation business, including stakes in 13 power plants, saying they offered "volatile returns" in a competitive market.Duke will keep its regulated utilities in Ohio and Kentucky, and will try to sell its merchant power plants, with a total capacity of about 6,600 megawatts, as a package, a spokesman said."This earnings profile is not a strategic fit for this Duke Energy and we have begun a process to exit it," Chief Executive Lynn Good said in a statement.Eleven of the plants Duke is planning to sell are in Ohio, one is in Illinois and another is Pennsylvania.

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.