Duke Energy Progress in talks to buy NCEMPA power plants

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

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.

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 about 700 MW 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.

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