Duke

Two formidable U.S. coal power generators this week separately revised their carbon dioxide emissions reduction targets. Duke Energy announced it would achieve net-zero carbon emissions by 2050. American Electric Power (AEP), meanwhile, said it would extend its target from 60% to 70% from 2000 levels by 2030, and by more than 80% by 2050—but it […]

Despite higher taxable income and pressure on balance sheets, capital spending by regulated utilities will remain elevated—and much of it will be dedicated to replacing aging infrastructure, hardening or efficiency-boosting measures, and on renewables and environmental projects, said Moody’s Investors Service in a recent sectoral briefing.  The credit ratings agency for the first time this […]

Duke Energy will swallow $30 million in runaway costs associated with operating its five-year-old 618-MW integrated gasification combined cycle (IGCC) facility in Edwardsport, Indiana, if a settlement the company reached with Indiana consumer groups last week is approved. Duke declared Edwardsport Generating Station “in service” in June 2013, despite a series of hiccups that delayed […]

Dynegy Inc.’s pending merger with Vistra Energy will create a company of a significant diversification and scale designed to weather volatile markets. Over the past year, at least eight other major power companies have embarked on various strategies to guard against distress in unregulated markets. Duke Energy. Three years ago, Duke Energy announced it would move away from organized […]

In a split decision, the North Carolina Court of Appeals affirmed a decision of the North Carolina Utility Commission that an advocacy group has infringed on Duke Energy’s state-sanctioned monopoly on the sale of electricity. The September 19 decision concerns an agreement between the North Carolina Waste Awareness and Reduction Network (NC WARN) and a […]

The Levy County Nuclear Plant is officially off the table in a new settlement agreement between Duke Energy and the Florida Public Service Commission (FPSC). The writing has long been on the wall for the plant; Duke in 2013 announced the termination of the engineering, procurement, and construction agreement for the facility. According to a […]

The past year saw an astonishing number of mergers, acquisitions, and business reconfigurations of electricity and energy companies, without any obvious organizing theory. Is it possible to make sense of the activity, or is it just business Brownian motion—aka, random behavior?  Gas companies spun off power generating assets. Power companies sold offshore businesses. Independent generators […]

The Nuclear Regulatory Commission (NRC) said on Dec. 21 that it has issued combined construction-and-operating licenses (COLs) for Duke Energy’s proposed two-unit William States Lee III nuclear plant in Gaffney, S.C. The project, named for long-time Duke executive Bill Lee, would use Westinghouse’s AP1000 design and be located adjacent to the abandoned Cherokee nuclear plant […]

Duke Energy announced on Sept. 29 that it had agreed to pay a $7 million fine to resolve all groundwater issues with the North Carolina Department of Environmental Quality (NCDEQ) relating to its 14 facilities in the state. The settlement comes after Duke appealed a proposed $25.1 million fine the NCDEQ levied in March. The […]

With plans already approved for the closure of 12 of its coal ash basins, Duke Energy on June 23 recommended the full excavation of 12 additional basins located in North Carolina. The company proposed excavating five basins each at its Cape Fear Plant in Moncure and its H.F. Lee Plant in Goldsboro. Additionally, it recommended […]

Calpine Corp. has its hands in two deals with large power companies—selling a plant to Duke Energy in Florida while buying a plant from Exelon Corp. in Massachusetts. On Aug. 25, Calpine announced that it has agreed to buy Exelon’s 809-MW Fore River Generating Station, which is located about 12 miles southeast of Boston, for […]

Dynegy Inc.—the Houston-based power company with operations in the Midwestern, Northeastern, and Western U.S.—has signed two separate agreements to acquire generation assets from Duke Energy and Energy Capital Partners (ECP). The acquisition includes a total of 12,313 MW of coal and gas generation, which will increase the company’s total portfolio to nearly 26 GW. Dynegy […]