Duke Energy estimates coal ash cleanup at $2B-$2.5B

Duke Energy's (DUK) North Carolina President Paul Newton tells an environmental commission that plans outlined by the utility to address coal ash in the state are estimated to cost $2B-$2.5B.

Newton says DUK's plans include excavating and relocating ash from company sites to a lined landfill, and converting three remaining coal units to dry-fly ash systems; costs would increase significantly, however, if DUK were to excavate and remove all ash from coal sites.

DUK says it is taking "full responsibility" for the February incident in which as much as 39K tons of coal ash were spilled into the Dan River.

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Comments (6)
  • QC
    , contributor
    Comments (28) | Send Message
    How pathetic.
    22 Apr 2014, 07:03 PM Reply Like
  • Jake2992
    , contributor
    Comments (1120) | Send Message
    Where are the criminal charges for trying to cover it up?
    22 Apr 2014, 08:22 PM Reply Like
  • thruhike00
    , contributor
    Comments (2) | Send Message
    Cleaning up only after federal subpoenas against local environmental commission and governor.
    22 Apr 2014, 10:05 PM Reply Like
    , contributor
    Comments (2) | Send Message
    How much of a long term effect will this decision play on the valuation of the Duke stock ? Will this impact the future of the dividend ?
    24 Apr 2014, 08:51 AM Reply Like
  • spinrbait
    , contributor
    Comments (684) | Send Message
    we should be hearing about the dividend anytime now. the clean up cost is equal to about a years profit. so its pretty big. how it can be amoratized over time, will be a big question that i haven't seen addressed. but duk closed up to 74.00 a share today.
    26 Apr 2014, 08:33 AM Reply Like
  • QC
    , contributor
    Comments (28) | Send Message
    Maybe the choice that will have to be made will come down to this, pay the fines, pay the executives and bonuses, pay the dividends. The rate payers will pay for some or all of this. Maybe you do not know, maybe you cannot tell, so I will tell you. I am mad as hell with Duke. I think Duke acquired some of these operations, and if they did not know about the permits or what they were buying, shame on them. They have a fiduciary duty, to their employees, rate payers, stock holders, and the areas they operate in. "39K tons of coal ash were spilled into the Dan River"
    Was everyone sleeping? Maybe they need to wake up, and see to it that some heads will roll. This is simple, when you are in charge, and bad things happen, and you hurt people and /or the environment: YOU SHOULD BE FIRED!!!!!!!!!!!
    27 Apr 2014, 09:35 AM Reply Like
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