RALEIGH: Non-profit says consumers shouldn't pay for clean-up - Local news, weather, sports Savannah | WSAV On Your Side

Non-profit suggests adjustments to pay for coal ash clean-up

Posted: Updated:
Workers survey a coal ash spil into the Dan River. Workers survey a coal ash spil into the Dan River.
  • Coal Ash SpillMore>>

  • Gov. McCrory raises concerns over Coal Ash Commission

    Gov. McCrory raises concerns over Coal Ash Commission

    Tuesday, August 26 2014 8:58 PM EDT2014-08-27 00:58:01 GMT
    Gov. Pat McCrory says he'll sign a "coal ash cleanup" bill in response to this year's massive spill, but he says he has strong issues with the legislation.
    Gov. Pat McCrory says he'll sign a "coal ash cleanup" bill in response to this year's massive spill, but he says he has strong issues with the legislation.
  • NC moves to fine Duke over coal ash pollution

    NC moves to fine Duke over coal ash pollution

    Tuesday, August 26 2014 5:37 PM EDT2014-08-26 21:37:51 GMT
    Duke Energy's Sutton PlantDuke Energy's Sutton Plant
    DENR moved Tuesday to fine Duke Energy over pollution that has been seeping into the groundwater for years from a pair of coal ash dumps at a retired power plant outside Wilmington.
    DENR moved Tuesday to fine Duke Energy over pollution that has been seeping into the groundwater for years from a pair of coal ash dumps at a retired power plant outside Wilmington.
  • DENR warns Duke Energy about coal ash at Sutton plant

    DENR warns Duke Energy about coal ash at Sutton plant

    Tuesday, August 26 2014 1:57 PM EDT2014-08-26 17:57:05 GMT
    Sutton plantSutton plant
    The N.C. Department of Environment and Natural Resources ahas sent Duke Energy Progress a notice of violation for the Sutton Electric Plant in New Hanover County.
    The N.C. Department of Environment and Natural Resources ahas sent Duke Energy Progress a notice of violation for the Sutton Electric Plant in New Hanover County.
RALEIGH, N.C. -

A non-profit says if Duke Energy makes five business adjustments, the cost of the clean-up of its 33 coal ash dumps in North Carolina wouldn't have to be passed on to consumers.

Duke Energy signed an agreement Monday with environmental and wildlife officials in North Carolina and Virginia to clean-up toxic coal ash from the Dan River. But to clean its other sites across the state, the nation’s largest utility said it could look to a rate hike.

The agreement signed Monday requires Duke to pay any "reasonable" cost associated with the Feb. 2 spill at its power plant near Eden, which coated 70 miles of the river in gray sludge. And the agreement places no cap on what the company might be required to spend.

But Duke reiterated in a regulatory filing to investors on Monday that it is unable to predict future costs for the cleanup, new laws passed in the wake of the spill or any environmental fines that might be levied against the company.

On Tuesday, the Institute for Energy Economics and Financial Analysis released a report saying if Duke Energy take five steps, the cost of the clean-ups wouldn't have to be passed on to consumers rate hikes.

The non-profit said Duke is well-positioned to provide the necessary financial resources required to fund the $2 to $10 billion site clean-ups.

"North Carolina residents and Duke Energy are partners," said Tom Sanzillo, director of finance for IEEFA. "That means mutual responsibility and mutual commitments. For Duke to seek a rate increase to pay for the coal ash cleanup amounts to a breakdown of its responsibilities, and is both one-sided and short-sighted."

IEEFA suggested Duke Energy take the following step to pay for the clean-ups:

  1. Additional borrowing by Duke Energy Carolinas
  2. Cash resources from operating flows
  3. Adjustments to the company capital projects portfolio (a capital expenditure program that already includes funds set aside for ash management)
  4. Slower dividend growth
  5. Sales of under-performing assets.

North Carolina lawmakers are currently debating a bill about what to do with Duke's 33 ash dumps at 14 power plants in North Carolina, which are located along rivers and lakes that cities and towns rely on for drinking water. State environmental officials say all of Duke's unlined waste pits, which contain more than 100 million tons of ash, are contaminating groundwater.

The Associated Press contributed to this report.

RELATED STORIES

Copyright 2014 WNCN. All rights reserved.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Statesboro PD: Suspect in Custody, Victim Hospitalized after Bar Beating

    Statesboro PD: Suspect in Custody, Victim Hospitalized after Bar Beating

    Thursday, August 28 2014 8:38 PM EDT2014-08-29 00:38:52 GMT
    Grant James SpencerGrant James Spencer
    A bouncer is in custody, accused of beating a teen, leaving him unconscious outside of a Statesboro bar Thursday morning, according to Statesboro Police.  Detectives say the assault happened near Rude Rudy's Bar on University Court.
    A bouncer is in custody, accused of beating a teen, leaving him unconscious outside of a Statesboro bar Thursday morning, according to Statesboro Police.  Detectives say the assault happened near Rude Rudy's Bar on University Court.
  • MUGS: 15 Children Removed From Woodruff Home, Adults Arrested

    MUGS: 15 Children Removed From Woodruff Home, Adults Arrested

    Wednesday, August 27 2014 6:16 PM EDT2014-08-27 22:16:58 GMT

    Investigators say they found the trailer surrounded by piles of clothes and trash, a swimming pool with green water, animal feces and roaches on the floor of the home and unsecured guns and medicine bottles.

    Investigators say they found the trailer surrounded by piles of clothes and trash, a swimming pool with green water, animal feces and roaches on the floor of the home and unsecured guns and medicine bottles.

  • 'Magic Mike,' Sequel to be Filmed in Savannah

    'Magic Mike,' Sequel to be Filmed in Savannah

    Wednesday, August 27 2014 12:52 PM EDT2014-08-27 16:52:15 GMT
    The Savannah Film Office says the sequel to the movie Magic Mike is scheduled to be filmed in the Savannah area beginning in September.
    The Savannah Film Office says the sequel to the movie Magic Mike is scheduled to be filmed in the Savannah area beginning in September.
Powered by WorldNow

1430 East Victory Drive
Savannah, GA 31404

Telephone: 912.651.0300
Fax: 912.651.0320
Email: newsemailalert@wsav.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.