Duke Energy to Build 750 MW Natural Gas Plant in South Carolina

Duke Energy Corporation (NYSE: DUK  ) announced today that it plans to build a 750 MW natural gas power plant at the site of an existing South Carolina coal-fired facility.

This announcement is the latest in a long series of modernization moves by Duke Energy. Just three days ago, the utility revealed plans for three new natural gas-fired Florida plants totaling nearly 2,000 MW of generation capacity.

"Natural gas-fired combined cycle plants are a good match to meet the significant energy needs of our customers over the next 15 years, and are expected to be an important part of the future Duke Energy Carolinas generation portfolio," said Clark Gillespy, Duke Energy State President of South Carolina, in today's press release. "They are very efficient in the production of electricity using natural gas as fuel and have very low plant emissions."

Unlike single-cycle plants, combined-cycle technology allows energy producers to capture additional power from wasted heat previously considered unharnessable. This results is more electricity at less cost.

Duke Energy also plans to take advantage of existing infrastructure to cut costs and reduce its environmental impact. Construction is expected to begin next summer, with full commercial operation by late 2017.

Read/Post Comments (1) | Recommend This Article (3)

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: 2961056, ~/Articles/ArticleHandler.aspx, 8/29/2015 9:01:11 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...

Justin Loiseau

Energy and Macroeconomic Specialist keeping investors up to date with macro news, utilities, and good companies doing good things.

Today's Market

updated 11 hours ago Sponsored by:
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 1.21 0.06%
NASD 4,828.33 15.62 0.32%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/28/2015 4:01 PM
DUK $72.39 Down -0.13 -0.18%
Duke Energy Corp CAPS Rating: ****