Figures change for Duke Energy projects

Posted on by Nelda Holder

The Charlotte Business Journal is reporting that Duke Energy Carolinas has increased its estimated construction costs for the anticipated Lee Nuclear Station in Cherokee County, S.C., from the original projection of $4 to $8 billion to some $11 billion. Factoring in financing costs, the Journal estimates the total would rise to more than $14 billion. The new estimate was part of the company’s report to the N.C. Utilities Commission regarding its 2008 Integrated Resource Plan. Most of the customers for the twin-reactor plant would be North Carolina residents (see the Xpress’ April 30 report, “How Much Is that Nuclear Plant in the Window?”). 

The Cliffside plant, under construction on the border of Rutherford and Cleveland counties in North Carolina, was upgraded in the company’s report from an original design rating of 800 megawatts to 825. According to the Journal, Duke’s two combined-cycle natural-gas projects — the Dan River plant in Rockingham County and the Buck plant in Rowan County — will be delayed because of the weakened U.S. economy’s effect on financing.

— Nelda Holder, associate editor

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3 thoughts on “Figures change for Duke Energy projects”

  1. Betty Church

    This is yet another outrage from Duke. Do they factor in the costs of health care from their too costly poisonous nuke plant? How about the costs from their indemnified damages should they occur? How much safe energy like wind or solar could we buy with this much money? Or how much research into other forms of energy would 14 billion buy us. It is time to nationalize these energy monopolies so they can be made to serve the people, not poison them. It is not enough that they can no longer afford their own bamboozling.

  2. nuvue

    Maybe it is time for individuals to start making their own energy, stop buying it from Duke and they will not need to build anything.
    It is WAY over time for people to put solar on every roof, we have to invest and put money where our mouth is- so to speak. I don’t want wind generators on every mountain, but we will need some in the best wind corridors.
    Economics 101 is the best way to avoid nukes if you don’t want them. Coal is certainly no better.
    I tried to “do” solar in Asheville in the early 80’s and starved….nobody buys, everybody wants.
    ( sorry to sound a bit jaded, but I also believe a new era has started)

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