Duke Energy profit rises on lower costs, higher power rates

Reuters

Feb 18 (Reuters) - Duke Energy Corp, the largest power provider in the United States, reported a rise in quarterly earnings, helped by lower costs and regulatory approvals of requests to raise utility rates.

Earnings rose to 97 cents per share in the fourth quarter ended Dec. 31, from 62 cents per share, a year earlier.

The company said on Monday it was looking to sell its Midwest commercial generation business, including stakes in 13 power plants, citing "volatile returns" in a competitive market.

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