Figures change for Duke Energy projects

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


Thanks for reading through to the end…

We share your inclination to get the whole story. For the past 25 years, Xpress has been committed to in-depth, balanced reporting about the greater Asheville area. We want everyone to have access to our stories. That’s a big part of why we've never charged for the paper or put up a paywall.

We’re pretty sure that you know journalism faces big challenges these days. Advertising no longer pays the whole cost. Media outlets around the country are asking their readers to chip in. Xpress needs help, too. We hope you’ll consider signing up to be a member of Xpress. For as little as $5 a month — the cost of a craft beer or kombucha — you can help keep local journalism strong. It only takes a moment.

Before you comment

The comments section is here to provide a platform for civil dialogue on the issues we face together as a local community. Xpress is committed to offering this platform for all voices, but when the tone of the discussion gets nasty or strays off topic, we believe many people choose not to participate. Xpress editors are determined to moderate comments to ensure a constructive interchange is maintained. All comments judged not to be in keeping with the spirit of civil discourse will be removed and repeat violators will be banned. See here for our terms of service. Thank you for being part of this effort to promote respectful discussion.

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)

Leave a Reply

To leave a reply you may Login with your Mountain Xpress account, connect socially or enter your name and e-mail. Your e-mail address will not be published. All fields are required.