Duke-Cinergy, MidAmerican-Pacificorp mergers complete

Hydropower operator Duke Energy of Charlotte, N.C., and Cinergy of Cincinnati, Ohio, completed their planned merger April 3.

The $9 billion transaction creates one of North America’s largest energy companies with more than $70 billion in assets and operations in two-thirds of the U.S. and parts of Canada. The Federal Energy Regulatory Commission approved the proposed merger in December.

Using the Duke Energy name, the new company operates 54,000 MW globally, relying on a mix of hydroelectric, nuclear, coal, and natural gas generation. Duke Energy affiliate, Duke Power, owns power plants in the Carolinas totaling 19,300 MW, including 31 hydroelectric stations.

MidAmerican completes PacifiCorp acquisition

Another FERC-approved merger, the $9.4 billion acquisition of Portland, Ore.-based PacifiCorp by MidAmerican Energy Holdings Co., was completed March 21.

MidAmerican, headquartered in Des Moines, Iowa, spent $5.1 billion and assumed $4.3 billion of debt to acquire PacifiCorp from Scottish Power of the United Kingdom.

PacifiCorp, which remains headquartered in Portland, has more than 8,400 MW, including 53 hydro facilities in Idaho, Montana, Oregon, Utah, and Washington totaling 1,073 MW.

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