Duke Energy Progress in discussions to purchase NCEMPA generation assets

   Duke Energy Progress in discussions to purchase NCEMPA generation assets

PR Newswire

RALEIGH, N.C., Feb. 3, 2014

RALEIGH, N.C., Feb. 3, 2014 /PRNewswire/ -- Duke Energy Progress and the North
Carolina Eastern Municipal Power Agency (NCEMPA) have entered into exclusive
discussions regarding the potential purchase by Duke Energy Progress of
NCEMPA's ownership in certain generating assets.

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NCEMPA currently maintains partial ownership interests in several Duke Energy
Progress plants, including Brunswick Nuclear Plant Units 1 and 2 (Brunswick
County), Mayo Plant (Person County), Roxboro Plant Unit 4 (Person County) and
the Harris Nuclear Plant (Wake County).

NCEMPA ownership in these plants represents approximately 700 megawatts of
generating capacity. NCEMPA members' distribution assets are not part of these
discussions.

Although the parties are in discussions, no definitive agreement has been
reached.

Should a potential agreement be reached, Duke Energy Progress and NCEMPA would
enter into a wholesale power contract to continue meeting the needs of NCEMPA
customers currently served by the Power Agency's interest in Duke Energy
Progress' plants.

NCEMPA and Duke Energy Progress will continue to negotiate all aspects of this
agreement with the best interests of customers, communities and shareholders
in mind.

Any potential transaction would take many months to complete, with various
aspects of the transaction subject to approval by, among others, the boards of
Duke Energy and NCEMPA, NCEMPA member utilities, and appropriate state and
federal agencies.

About the N.C. Eastern Municipal Power Agency
NCEMPA consists of 32 cities and towns in eastern North Carolina, including
some of the largest cities in the region. NCEMPA participants own and operate
their electric systems and serve nearly 270,000 retail customers. NCEMPA was
formed in 1978 and is managed by ElectriCities of North Carolina,
headquartered in Raleigh.

About Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy (NYSE: DUK), provides
electricity and related services to nearly 1.5 million customers in North
Carolina and South Carolina. The utility is headquartered in Raleigh, N.C.,
and serves a territory encompassing more than 34,000 square miles including
the cities of Raleigh, Wilmington and Asheville in North Carolina and Florence
and Sumter in South Carolina. More information is available at
www.duke-energy.com.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded
on the New York Stock Exchange under the symbol DUK. More information about
the company is available at: www.duke-energy.com.

Contact: Rebecca Agner, ElectriCities of North Carolina
Office: 919.760.6334
Email: ragner@electricities.org

Contact: Jeff Brooks, Duke Energy
Office: 919.219.9215 | 24-Hour: 800.559.3853
Email: jeff.brooks2@duke-energy.com

SOURCE Duke Energy

Website: http://www.duke-energy.com
 
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