Duke Energy to sell five small hydro plants at a $40M loss

CHARLOTTE, N.C. — Duke Energy Carolinas plans to sell five small hydro power plants to Northbrook Energy at a $40 million loss, contending the sale is a better deal for customers than the utility holding on to them.

Duke and Northbrook jointly asked the N.C. Utilities Commission Thursday to approve the sale. They also asked the commission for a declaratory ruling to qualify the small plants as new renewable energy facilities after the sale.

That would mean the five hydro plants would qualify for renewable-energy credits. Duke, which will buy the power and credits from Northbrook after the sale, can use to offset part if its requirements for new renewable energy under the states Renewable Energy Portfolio Standard.

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