Duke is going to sell its natural-gas power plant in Morro Bay. According to a press release, Duke Energy announced a plan to sell off "all of Duke Energy North America's physical and commercial assets outside the Midwestern United States."
The decision to sell off its merchant plants came from the corporate level, said David Hicks, spokesperson for Duke. Merchant plants, like the plant in Morro Bay, produce energy to be sold on the wholesale energy market.
Duke purchased the Morro Bay plant in 1998. Since then it and the city of Morro Bay have been in negotiations to modernize the aging facility. According to Hicks, the plan to sell the Morro Bay plant will not affect plans to modernize plant.
"Duke has every intention of going ahead with the new modernization plan and working with the city," said Hicks. "Basically it's business as usual at the plants."