Coal Ash Cleanup Settlement To Save Duke Energy Users $1B: Stein

NORTH CAROLINA —A settlement announced Monday will prevent Duke Energy customers from having to shoulder $1.1 billion in cleanup costs over the next decade associated with the power company's excavation of 80 million tons of toxic coal ash around the state, North Carolina Attorney General Josh Stein announced.

Under the settlement announced Jan. 25, Duke Energy customers will not bear any coal ash cleanup costs beyond a one-time $100 million environmental penalty assessed by the North Carolina Utilities Commission, Stein said. The Utilities Commission had initially granted the power company's request that its customers bear all coal ash cleanup expenses.

The settlement agreement applies to all Duke Energy coal ash cleanup costs from 2015 through 2030.

"Today’s settlement is a win for every Duke Energy customer,” Stein said in a statement. “I have long held that North Carolinians should not bear the full cost of cleaning up coal ash. As a result of today’s settlement, we won’t — to the tune of more than $1 billion. I’m proud that this result will save customers’ money and grateful for the partnership with the Public Staff and the Sierra Club.”

Referring to the move as "a milestone settlement," Duke Energy said the deal will reduce pending rate requests related to coal ash costs by 60 percent.

“This agreement addresses a shared interest in putting the coal ash debate to rest as we work toward building the cleaner energy future North Carolinians want and deserve,” said Stephen De May, Duke Energy’s North Carolina president. “We were able to reach a balanced compromise that will deliver immediate and long-term savings to customers and provide greater certainty to the company over the next decade.”

SEE ALSO:

• North Carolina Orders Duke To Excavate Coal Ash At 6 Sites
• Here's How Much Duke Energy Must Pay To Settle Coal Ash Leaks