Coal & Coal Ash

A non-profit says if Duke Energy makes five business adjustments, the cost of the clean-up of its 33 coal ash dumps in North Carolina wouldn’t have to be passed on to consumers.

Duke Energy shouldn’t reach any deeper into your pocket to cover the cost of solving its coal ash problems across North Carolina, according to an Ohio-based nonprofit.

The Institute for Energy Economics and Financial Analysis says in a new report that Duke could pay for the multibillion-dollar cleanup of its ash operations by additional borrowing, using cash from operations or the dividend and by putting off some capital projects.

A new analysis of the financial position of Duke Energy and Duke Energy Carolinas shows that the companies can afford to pay the expected $2 to $10 billion for coal ash cleanup in North Carolina without new rate hikes for their customers.

Federal environmental officials said Thursday that they have reached a deal with Duke Energy to clean up its mess from a massive coal ash spill into the Dan River that coated 70 miles of the waterway in North Carolina and Virginia with toxic gray sludge.

Duke Energy Corp. (DUK:US) shareholders accused the board of exposing the company to billions of dollars in liability by failing to clean up coal-ash ponds in North Carolina, setting up another legal challenge for the largest U.S. utility owner after a February spill in the state.

The head of Duke Energy defended the company’s performance on Thursday, saying it had been a “year of accomplishment for Duke Energy” at a dramatic shareholders meeting.