Duke Said to Work With Citigroup on Sale of Midwest Plants

Duke Energy Corp., the largest U.S. utility owner, is working with Citigroup Inc. on plans to sell more than a dozen Midwestern power plants, according to people familiar with the matter.

While a sales process hasn’t started, bidders expect to be asked to submit offers in early 2014, said the people, who asked not to be identified because the matter is private. The plants may fetch $1.5 billion to $2 billion together, the people said.