Duke Energy Progress Files with FERC for Approval to Purchase NCEMPA Generation Assets

Duke Energy Progress filed with FERC for approval to purchase the North Carolina Eastern Municipal Power Agency's (NCEMPA) generating assets for $1.2 billion. NCEMPA currently maintains partial ownership interest in several Duke Energy Progress plants, including Brunswick Nuclear Plant Units 1 and 2, Mayo Plant, Roxboro Plant Unit 4, and the Harris Nuclear Plant. The Power Agency's ownership interest in these plants represents approximately 700 MW of generating capacity. In addition to the FERC review, additional filings and reviews will be required with the N.C. Utilities Commission, Public Service Commission of South Carolina and the Nuclear Regulatory Commission. Under the terms of the agreement, approvals must be received and the transaction completed by the end of 2016.