November 7, 2018 Read More →

Could Duke Energy’s coal plants close earlier than projected? New report makes that case

Charlotte Business Journal:

A new report by the Institute for Energy Economics and Financial Analysis argues that cost considerations are likely to push Duke Energy Corp. to close its remaining Carolinas’ coal plants earlier than its currently published timetable.

Duke (NYSE: DUK) projected 2038 as a likely date for closing the last of its Carolinas coal plants in its most recent long-term plan.

But Dennis Wamsted, an editor with the Institute, believes Duke will be done with coal in the Carolinas before that year. He wrote a report this week making that case, using the example of Duke Energy Progress’ Mayo and Roxboro coal plants.

Once generating workhorses in the Progress fleet, the plants operate at much lower levels today because they cost more to produce energy from them than from most of the utility’s fleet.

“At the end of the day, it just comes down to economics,” says Wamsted in an interview this week. “How much maintenance do you want to do on a plant if it’s only going to run 15% of the time.”

Could Duke Energy’s coal plants close earlier than projected? New report makes that case

Posted in: IEEFA In the News

Comments are closed.