Utility Regulators Show Support for Developing New Nuclear Generation in the Carolinas March 20, 2007
CHARLOTTE, N.C. -
The North Carolina Utilities Commission issued a ruling today that signals its support for Duke Energy Carolinas' efforts to pursue new nuclear generation for its customers.
In a September 2006 filing with the commission, Duke Energy Carolinas sought assurance that its investment to evaluate and develop an advanced new nuclear power plant in the Carolinas was prudent and that the North Carolina allocable portion of such costs could be recovered in a timely manner.
Prior to securing regulatory approval to begin construction for the project, Duke Energy Carolinas expects to invest millions of dollars to develop the proposed William States Lee III Nuclear Station in Cherokee County, S.C., which will be jointly owned by Southern Company.
The commission ruled that it is appropriate for the utility to pursue the development of the project to preserve nuclear generation as an option for customers. The commission offered its general assurance that such activities are appropriate.
"While we continue to review the full order to understand its implications, we are pleased with the ruling and view it as an important show of support for new nuclear generation to meet the growing needs of customers in the Carolinas," said Ellen Ruff, president of Duke Energy Carolinas.
Nuclear generation has zero greenhouse gas emissions and is a key part of Duke Energy Carolinas' plan to reduce the carbon footprint of our generation portfolio.
"Duke Energy Carolinas welcomes the opportunity to provide reports to the commission detailing our development efforts," Ruff said. "We also look forward to continuing to work with the commission and lawmakers in both Carolinas to facilitate construction of this important clean energy source," she said.
Duke Energy Corp., one of the largest electric power companies in the United States, supplies and delivers energy to approximately 3.9 million U.S. customers. The company has nearly 37,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
Duke Energy's Carolinas operations include nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides nearly 21,000 megawatts of safe, reliable and competitively priced electricity to more than 2.2 million electric customers in a 22,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.