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DukeSolutions Puts Trading Operation on the Block

DukeSolutions Puts Trading Operation on the Block

DukeSolutions is actively looking to sell the gas and electric trading portion of its business, a spokesman confirmed last week, hastening to explain that this sale has nothing to do with Duke Energy's main North American trading operations under Duke Energy Merchants.

The natural gas and electric contracts held by DukeSolutions represents "a small portion of their business," said spokesman Paul Mason, and are not core to the subsidiary's operations. He declined to quantify the property to be sold, however; nor would he comment on industry rumors that Sempra Energy is the possible acquirer. Sempra also reportedly is bidding on PG&E Corp.'s energy services operations, which were recently put on the market. (See separate story, this issue)

In its statement of 1999 earnings Duke Energy took a one-time $35 million charge "related to the repositioning of DukeSolutions." The unit provides a variety of services including electric and gas risk management, asset monetization, performance contracting, distributed generation, cogeneration, metering, billing and administration, end-use analysis and energy audits, facility modernization and engineering, and equipment retrofits. Ellen Beswick

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