Dayton closes on sale of 31% of East Bend coal unit

The Public Utilities Commission of Ohio was told on Jan. 2 by Dayton Power and Light that Dayton’s 31% interest in East Bend Unit 2 was sold effective Dec. 30 to Duke Energy Kentucky, which is the operator of East Bend and which, prior to the close of the transaction, held the other 69% interest.

The closing took place consistent with the Purchase and Sale Agreement (PSA) that was previously provided to the Ohio commission. A final accounting will be provided to PUCO staff within 90 days of closing.

The Kentucky Public Service Commission on Dec. 4 had approved this deal. On June 13, the Duke Energy Kentucky subsidiary of Duke Energy (NYSE: DUK) had applied for a Certificate of Public Convenience and Necessity in connection with the acquisition of the remaining 31% interest (about 186 MW of net installed capacity) in East Bend Unit 2 from Dayton at a purchase price of $12.4m. Duke Energy Kentucky had already owned the other 69% interest (approximately 414 MW of net installed capacity) in East Bend Unit 2. This is the only operating unit at the plant.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.