Duke Energy Settles With Groups Including Sierra Club

Duke Energy (NYSE: DUK  ) announced today that it had reached a settlement with four groups (Sierra Club, Citizens Action Coalition, Save the Valley, and Valley Watch) over disputes related to the air permits for its Edwardsport IGCC power plant in Indiana.

The Sierra Club announced that under the terms of the settlement, Duke Energy Indiana will cease burning coal at most of its Wabash River coal-fired power plant in Vigo County by 2018 and invest in new renewable energy projects. "A total of 668 megawatts of coal-fired power will come offline as a part of this agreement," according to the Sierra Club.

According to Duke Energy, the permits at the center of the matter were issued by the Indiana Department of Environmental Management in 2008 and a dispute arose over "technical issues" regarding the permits that allowed Duke to build and operate the new plant that began commercially operating in June of this year.

As a result of the settlement, the new plant's air permits remain approved with no changes, according to Duke. However it specified a deadline of June 1, 2018, at latest, to cease burning coal at five other plants throughout western Indiana. While this will cause Duke to no longer operate its coal-fired units, it does not prevent it from converting the units to natural gas.

Finally Duke committed to explore additional use and sources of green energy. It agreed to pursue one of two options: "implement a 30-megawatt 'feed-in tariff' for solar photovoltaic energy or construct/contract for 15 megawatts of wind and/or solar generation." If it proceeds with the latter, it must retire two additional oil-fired plants by the June 2018 deadline.

 

link


Read/Post Comments (1) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Add your comment.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2617928, ~/Articles/ArticleHandler.aspx, 9/1/2014 8:24:40 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement