Do More With Reuters
Partner Services

North Carolina backs Duke on coal-fired plant

Wed Nov 4, 2009 11:40pm IST
 
Email | Print | | Single Page
[-] Text [+]

(Repeats, fixes typo in first paragraph)

By Jim Brumm

WILMINGTON, N.C., Nov 4 (Reuters) - North Carolina utility regulators have denied an advocacy group's motion to block construction of a $1.8 billion coal-fired power plant that Duke Energy Corp (DUK.N: Quote, Profile, Research) has been building in the state.

In an order issued on Wednesday, the state Utility Commission said it saw no reason to revoke a certificate allowing Duke Energy's Carolinas subsidiary to build the 800 megawatt unit at its Cliffside Steam Plant, about 50 miles (80 km) west of Charlotte.

The commission said the North Carolina Waste Awareness and Reduction Network, a nonprofit group pressing for energy efficiency and clean power generation, failed to justify its call for a review of the certificate of public convenience and necessity granted in March 2007 allowing construction of the plant.

Work on the plant began in January 2008 after the Division of Air Quality issued an air permit allowing operation of the plant once it is completed in 2012.

The construction is about 46 percent complete, Duke spokesman Jason Walls said Wednesday, adding that about $1 billion had been spent on the plant so far.

The Carolinas operations of Charlotte-based Duke Energy provide nearly 21,000 megawatts of electricity to more than 2.3 million customers in a 24,000-square-mile service area of North Carolina and South Carolina. (Editing by David Gregorio)

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article