Seeking Alpha

Duke Energy (DUK +0.6%) will close two coal-fired power plants in North Carolina two years ahead...

Duke Energy (DUK +0.6%) will close two coal-fired power plants in North Carolina two years ahead of schedule, as it continues to transition to more-efficient plants. The utility's modernization effort includes retiring as much as 6,800 MW of older coal and large oil-fired operations; by the end of 2013, DUK says it will have retired more than 3,800 MW of this capacity.
Comments (6)
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    Let me see. SA will write like "Duke Energy will stop using coal". They forgot to mention that those plants were 80 years old and were hardly in use in last 10 years. They were operated to keep it in working condition.
    1 Feb 2013, 02:42 PM Reply Like
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    One more finding is Duke energy just launched a coal gassification based plants around that around that costed $3.2B.
    1 Feb 2013, 02:51 PM Reply Like
  • Hendershott
    , contributor
    Comments (1514) | Send Message
     
    Holdand; Read the release from the company.
    1 Feb 2013, 04:09 PM Reply Like
  • cweed
    , contributor
    Comments (7) | Send Message
     
    ...They could create a lot of jobs if they retrofit the units to burn natural gas.....or is that too radical of an idea....
    2 Feb 2013, 11:39 AM Reply Like
  • freebra
    , contributor
    Comments (251) | Send Message
     
    Yes, possibly create a short term increase in jobs, but any retrofit of 80 year old plant(s) to burn natural gas is not economically justified.

     

    These plants have been outdated (inefficient) and seldom used for 30 years. The announcement of "closing" the plants, is strictly PR (BS).
    2 Feb 2013, 12:01 PM Reply Like
  • ccpflaum
    , contributor
    Comments (7) | Send Message
     
    Sadly, Duke's customers will bear this cost as they pay for the rate base amount of these plants. They will also suffer reliability risk due to decreased reserve margins.
    5 Feb 2013, 10:19 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|