The latest settlement would reduce coal ash costs included in the pending rate requests by 60%, which Duke Energy believes will provide immediate customer savings if approved.
“This settlement affirms that the current closure strategy remains prudent and in the best interests of customers and communities in the Carolinas,” read a statement from Duke Energy.
Most of the remaining expenditures are expected to occur over the next 15-20 years.
The Utilities Commission still needs to make a final decision on Monday s proposed rate requests and the proposed settlement agreement.
In January 2020, Duke Energy signed an agreement to close its remaining nine coal ash basins in the state.
RALEIGH, N.C. Duke Energy, North Carolina officials and a conservation group announced Monday an agreement on how the utility pays to get rid of coal ash stored in the state. The proposed settlement would shift an estimated $1.1 billion in expenses away from customers over the next decade to the nation s largest electric utility and its shareholders.
The agreement was announced a month after the state Supreme Court ruled regulators should revisit an order that would have placed nearly all of the expense upon Duke s 3.4 million electric customers in the state.
Under the settlement, which still must be approved by the North Carolina Utilities Commission, the amounts covered by those customers would be reduced from roughly $4 billion through 2030 to $3 billion, Duke Energy spokeswoman Meredith Archie said.
Duke Energy agreed to a settlement with state officials and the Sierra Club that will save N.C. customers over $1.1 billion in costs they would have had to pay to offset the expense of the Charlotte-based utility's coal ash cleanup. Ratepayers were initially slated to pay for much of the cleanup costs. Duke Energy had long stored coal ash, a byproduct of power production, mixed with water in .
By Mark Starling
State Launches Website Showing Vaccine Eligibility
(Raleigh, NC) North Carolina residents now have an easy way to know when they re COVID-19 vaccine-eligible. Health and Human Services launched a website yesterday that will notify users statewide exactly when they can receive a dose. Current groups eligible for the vaccines include older residents, healthcare workers and long-term care facility residents. Those who use the website will receive a notification when their group is added to the eligibility list.
Customers To Save Money After Duke Energy Settlement
(Asheville, NC) Duke Energy customers could soon see some savings thanks to a settlement. North Carolina Attorney General David Stein spearheaded a deal yesterday which will reduce the burden on customers as Duke cleans up coal ash over the next decade. Total savings for customers in the ten-year time frame is expected to be around one-billion-dollars. The public staff of the North Caroli
Duke Energy’s influence in North Carolina goes well beyond the electricity bill.
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Protesters demonstrate during Duke Energy’s 2014 shareholder meeting in Charlotte, North Carolina, following a coal ash spill.
For the vast majority of North Carolina’s 10 million–plus residents, there is only one option if they’d like to heat their home, turn on the lights, or charge their phone: Duke Energy. The largest investor-owned electric utility in the nation, Duke operates an effective monopoly on energy in the state, while also supplying natural gas and coal-generated electricity to customers (or hostages, if you’re feeling particularly spicy) across the nation.