Company plans to file future Certificate of Public Convenience and Necessity (CPCN) applications for solar generation, utility-scale storage
Company will continue to work with communities to explore and maximize programs and technology to delay or cancel future plans for additional peaking generation
CHARLOTTE, N.C. -- Duke Energy Progress today received approval from the North Carolina Utilities Commission (NCUC) to transition to a smarter, cleaner energy future at the Asheville Plant. The project is estimated to cost approximately $1 billion.
- Sulfur dioxide will be reduced by an estimated 99 percent.
- Nitrogen oxide will be reduced by an estimated 45 percent.
- Mercury emissions will be reduced to negligible levels
- Water discharges will be reduced by an estimated 50 percent.
- Carbon dioxide emissions will be reduced by about 60 percent, on a per-megawatt-hour basis, due to the efficiency of the new gas units and the fact that natural gas burns more cleanly than coal.
(The percentages above are estimates and include both phases of the modernization project. Final percentages will be determined after the company receives environmental permits.)
In addition to the environmental benefits, the combined cycle gas units' efficiency ratings are about 35 percent less expensive to operate than the existing coal units. These savings will be annually passed on to customers dollar-for-dollar via the company's annual fuel clause adjustment.
Upgrades to existing transmission equipment on the Asheville Plant site are also planned as part of this project.
Since 1970, peak power demand has more than tripled in Duke Energy Progress' Western Region. Ensuring power reliability was particularly difficult during the winters of 2014 and 2015, when peak demand was 30 percent higher than in 2013. Over the next decade, continued population and business growth is expected to increase overall power demand by more than 17 percent.
For more information about the company's plan see http://www.duke-energy.com/western-carolinas-modernization/.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.