Duke Energy May Have Buyer for Its Plants

Duke Energy, Charlotte, NC, is said to be near a deal to sell part of its power-generation operation in North America for about $1.5 billion. According to the New York Times, the unconfirmed buyer is LS Power Group, a New York-based investment firm that specializes in the energy sector. The transaction could be officially announced today. The sale is expected to include Duke plants in the Northeast and West that have about 6,100 MW of generating capacity fueled by natural gas. The company announced its intention to sell the plants and other selected assets in September.