- Write by:
-
Saturday, January 4, 2020 - 11:09:50 AM
-
661 Visit
-
Print
Mining News Pro - Duke Energy Corp. reached a settlement with North Carolina regulators and environmentalists to close its remaining coal ash ponds in the state, ending a long-running fight over cleaning up waste from power plants.
According to Mining News Pro - The settlement announced Thursday, which saves the company about $1.5 billion, requires Duke to remove nearly 80 million tons of coal ash. Seven basins will be fully excavated, and the waste will be shipped to lined landfills to prevent groundwater contamination. Two other sites will be partially excavated.
The deal ends a legal dispute with the state, which in April ordered the utility to excavate all the ponds. Duke’s savings come from avoiding a full excavation at two sites, where lined landfills were built atop capped ash ponds. Duke estimated in April that excavating all of its ash basins across North and South Carolina would cost about $10.5 billion.
“This agreement significantly reduces the cost to close our coal ash basins in the Carolinas for our customers, while delivering the same environmental benefits as full excavation,” Stephen De May, Duke Energy’s North Carolina president, said in a statement.
Under the settlement, Duke’s cleanup is expected to take 15 to 20 years and cost $8 billion to $9 billion across North the Carolinas, including $2.4 billion that’s already been spent.
Most coal ash left over from burning the fuel is stored at power plants, either in dry landfills or ponds. The sites — which contain arsenic, boron, lead and other toxins — are considered hazardous by environmentalists who say they pollute ground water. The settlement announced Thursday was negotiated in part by the Southern Environmental Law Center, which has long pushed for cleaning up coal ash ponds in the U.S. Southeast.
“This agreement is the culmination of nine years of work by communities across North Carolina and puts in place the most extensive coal ash cleanup in the nation,” Frank Holleman, senior attorney at the center, said in a statement.
Duke shares fell as much as 1.3% as the utility sector at large declined. Nonetheless, Guggenheim Securities analysts led by Shahriar Pourreza said the settlement was positive for the company and expressed optimism that regulators would allow Duke to recover the clean-up costs from customers.
“Bottom line: this helps to remove the (North Carolina) coal ash overhang that certainly was a headline concern for many investors,” Pourreza said in a research note.
Short Link:
https://www.miningnews.ir/En/News/467069
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in ...
Peabody Energy Corp. shares sunk to the lowest in seven months after the biggest US coal miner warned that first-quarter ...
Polish government is abandoning plans to separate coal-fired power plants into a special company and is considering ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Researchers at the University of Edinburgh discovered that bacteria found in areas polluted by acid mine drainage had ...
No comments have been posted yet ...