Duke Energy to shed Midwest generation business

By The Times News

Duke Energy says it will get out of the wholesale power-generation business in the Midwest because the financial results are too volatile.

The company owns a stake in 11 power plants in Ohio and one each in Illinois and Pennsylvania.

Charlotte, N.C.-based Duke said Monday that it will take an accounting charge of between $1 billion and $2 billion on its first-quarter results, which are scheduled for release Tuesday.

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TAGS Power, News

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