CHARLOTTE, N.C., Jan. 18, 2017 /PRNewswire/ -- Duke Energy
and the U.S. government today reached a settlement to resolve a
government lawsuit that alleged Duke Energy committed a technical
violation of federal antitrust law related to its recently
completed acquisition of a Florida
power plant.
Duke Energy admits no wrongdoing or liability as part of the
settlement, but agrees to pay a $600,000 civil penalty to settle the case and
avoid the costs and uncertainties of continued litigation.
The case involves Duke Energy's $166-million acquisition of the Osprey Energy
Center – a natural gas-fired power plant in Auburndale, Fla., previously owned by Calpine
Construction Finance Co.
Duke Energy completed the acquisition on Jan. 3, 2017.
The Federal Energy Regulatory Commission and the Florida Public
Service Commission approved the acquisition – as did the Federal
Trade Commission (FTC).
At issue in the government's now-settled lawsuit, filed by the
U.S. Justice Department, was the date – Jan.
30, 2015 – that Duke Energy sought FTC antitrust approval
for the acquisition.
The Justice Department said Duke Energy should have sought FTC
approval four months earlier when Duke Energy signed a separate
contract with the plant's then-owner, Calpine Construction, to buy
electricity from the power plant during the period when Duke Energy
would be awaiting federal approval of the acquisition.
Duke Energy maintains it sought FTC approval on the correct
date, in compliance with the relevant federal statute as it was
widely interpreted by most companies at the time.
"We're pleased we've been able to successfully resolve this
case," said Harry Sideris, president
of Duke Energy Florida. "The addition of the Osprey power plant to
our fleet of other Florida
electricity generating facilities will help meet future energy
demand and encourage economic growth throughout central
Florida."
The settlement is subject to approval by the U.S. District Court
in Washington, D.C.
The monetary penalty will not be included in Duke Energy
customers' rates.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix,
including renewables, providing about 9,000 megawatts of owned
electric capacity to approximately 1.7 million customers in a
13,000-square-mile service area.
With its Florida regional
headquarters located in St. Petersburg,
Fla., Duke Energy is one of the largest electric power
holding companies in the United
States. It supplies and delivers electricity to
approximately 7.4 million customers in the Southeast and Midwest,
representing a population of approximately 24 million people. The
company also distributes natural gas to more than 1.5 million
customers in the Carolinas, Ohio,
Kentucky and Tennessee. Its commercial business operates a
growing renewable energy portfolio and transmission infrastructure
across the United States.
Headquartered in Charlotte,
N.C., Duke Energy is an S&P 100 Stock Index company
traded on the New York Stock Exchange under the symbol DUK. More
information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for
journalists and features news releases, helpful links, photos and
videos. Hosted by Duke Energy, illumination is an online
destination for stories about remarkable people, innovations, and
community and environmental topics. It also offers glimpses into
the past and insights into the future of energy.
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Facebook.
Contact: Dave Scanzoni
24-Hour: 800.559.3853
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SOURCE Duke Energy