Duke Energy to adopt Cinergy trading approach
Now that it has shifted most of its derivatives contracts to Barclays Capital, Duke Energy Corp will model its trading and marketing business on that of Cinergy, the Ohio-based utility it is buying.
Investment bank BarCap said in November it would acquire and manage the bulk of Duke Energy North America's (DENA's) power and gas derivatives contracts, as part of the Cinergy takeover, due to complete in the first half of 2006. The bank will receive $700 million for its assumption of DENA's
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