Japanese trading house Marubeni Corp. is seeking a buyer for its 30% stake in the Millmerran Power Station in Australia's Queensland state, a person familiar with the matter said Thursday.

The move comes as Australian electricity usage weakens due to a price spike caused by expensive network upgrades, the introduction of a price on carbon and a recent bout of mild weather. Consumers are also exhibiting greater frugality amid concerns about the health of the global economy.

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