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Work on recreation and habitat enhancements on the way
The Federal Energy Regulatory Commission (FERC) today issued two of six new federal hydro licenses to Duke Energy for Nantahala Area hydro stations, which kickstarts processes for a variety of public recreation and aquatic habitat enhancements in the Tuckasegee River watershed.
The licenses issued today cover hydro developments on the East Fork (Tanasee Creek, Bear Creek and Cedar Cliff hydro stations) and West Fork (Thorpe and Tuckasegee hydro stations) of the Tuckasegee River. Licenses for hydro stations on the Nantahala River watershed and others are expected soon. Read more
Duke Energy Renewables now owns a 1-megawatt solar farm on the grounds of an elementary school in the southwestern corner of North Carolina.
Approximately 4,400 ground-mounted photovoltaic (PV) solar modules on the property of the Martins Creek Elementary School in Murphy, N.C., will generate an estimated 1.3 million kilowatt-hours of electricity each year – enough to power more than 150 average-sized homes.
Duke Energy Renewables, part of Duke Energy’s Commercial Businesses, acquired Martins Creek Solar N.C., LLC, from ESA Renewables, LLC, in March 2011. ESA Renewables (www.esarenewables.com) designed and built the solar array, and operates it for Duke Energy Renewables. Electricity from the solar farm is sold through Blue Ridge Mountain EMC to the Tennessee Valley Authority, as part of TVA’s Generation PartnersSM program. The site began producing electricity in March.
The PV installation is believed to be the only one of its kind on school property in the state and the third-largest solar farm sited on school property in the U.S. The structure of the 10-year power purchase agreement with TVA through Blue Ridge Mountain EMC enables the elementary school to share in revenue created by electric generation at the site. This revenue roughly equates to the cost of staffing two full-time teachers at the school. Read more
Duke Energy and others in the nuclear industry continue to closely monitor the events in Japan. Our thoughts and deepest sympathies are with the people of Japan during this difficult time. The nuclear energy industry is working through national and international agencies to support Japan, and share information throughout the industry and with the public. Our industry takes very seriously our commitment to the safe operation of nuclear energy facilities and will incorporate lessons learned based on this experience into our safety and operating procedures. Read more
Favorable weather and solid operational performance resulted in Duke Energy posting full-year adjusted diluted EPS of $1.43, achieving its increased guidance range of $1.40 to $1.45 per share for 2010. Adjusted diluted EPS in 2009 was $1.22. Duke Energy’s full-year reported diluted EPS was $1.00 for 2010, compared to $0.83 in 2009.
The company has established its 2011 adjusted diluted earnings guidance range at $1.35 to $1.40 per share.
“Weather grabbed the headlines in 2010, but the real story was the performance of our employees,” said Jim Rogers, chairman, president and chief executive officer. “We consistently delivered strong operational and financial results during the year” Read more
Duke Energy Indiana, the Indiana Utility Consumer Counselor, the Duke Energy Indiana Industrial Group, and Nucor Steel jointly notified the Indiana Utility Regulatory Commission today that they are withdrawing their Sept. 17 settlement on cost increases associated with Duke Energy’s Edwardsport coal gasification power plant near Vincennes, Ind. The parties agreed to enter into new settlement negotiations.
“This action is the best path forward for the Edwardsport project at this time,” said James E. Rogers, Duke Energy chairman, president and chief executive officer. “While we are disappointed the original settlement is being withdrawn, we understand the parties’ desire to negotiate a new settlement that is separate and apart from recent events.
“The support and cooperation of the settling parties is important to us, so we have agreed to re-examine and renegotiate the terms of the cost settlement. The merits of the Edwardsport plant are strong and construction continues to move forward. The total project is about 80 percent complete and we are on track to finish the plant by the fall of 2012.” Read more.
Oct. 14, 2010: Duke Energy Responds to Indiana Utility Regulatory Commission Order
Oct. 12, 2010: Duke Energy Responds to Hiring Issues; CEO says Company Will Take Whatever Actions are Appropriate
Project overview at Duke-Energy.com
The Indiana Utility Regulatory Commission today announced it has initiated an internal investigation of Duke Energy’s cases over which commission attorney Scott Storms presided between Jan. 1, 2010, and Sept. 30, 2010. The action is in response to an Oct. 5 request by Indiana Governor Mitch Daniels.
In addition, the commission stated it would internally audit all Edwardsport coal gasification plant cases dating back to 2006. The commission requested Duke Energy Chairman, President and Chief Executive Officer James E. Rogers appear at a Nov. 3 technical conference to describe the continuing need for the company’s Edwardsport plant, which is under construction in southwest Indiana.
“We understand the state’s actions and recognize the need to ensure public trust,” Rogers said. “This has my full attention and I am prepared to appear before the commission on Nov. 3 to reaffirm the need for and benefits of the Edwardsport plant for our Indiana customers. Edwardsport is key to modernizing Indiana’s aging electric system, which has not added a major new power plant in more than two decades.” Read more
