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
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
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