Duke Energy responds to N.C. Supreme Court ruling on coal ash costs
Duke Energy responds positively to the North Carolina Supreme Court's ruling, affirming the prudence of its coal ash management practices, essential for providing reliable electricity. The court backed the North Carolina Utilities Commission's decision, allowing cost recovery linked to coal ash management. Duke Energy emphasizes that North Carolina electric rates remain below the national average and will continue efforts to keep rates low. The company anticipates further clarification on a remanded issue from the ruling.
- Court ruling affirms coal ash management practices, enabling cost recovery.
- Electric rates in North Carolina remain below the national average.
- None.
CHARLOTTE, N.C., Dec. 11, 2020 /PRNewswire/ -- Duke Energy issued the following statement in response to today's ruling by the North Carolina Supreme Court in a case regarding a 2018 North Carolina Utilities Commission order that had addressed costs associated with coal ash management and safe basin closure:
"The N.C. Supreme Court's decision is a positive step forward by affirming that our coal ash management practices are a prudent part of supplying customers with reliable electricity. We are pleased that the court affirmed the North Carolina Utilities Commission's decision that it is appropriate to recover these costs.
"It's important to note that electric rates in North Carolina remain below the national average, and we work hard every day to keep rates as low as possible.
"We continue to agree with the commission's rejection of the Public Staff's cost-sharing approach in several previous rate case orders, and we look forward to the commission providing more details regarding the basis for its decision on the single issue remanded to it, pursuant to the court's opinion."
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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SOURCE Duke Energy
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