Friday, September 22, 2006

Duke Seek Recovery of Nuke Costs

Triangle Business Journal:
Duke Energy Corp. is asking the North Carolina Utilities Commission in Raleigh to allow it to increase utility rates to cover the costs of building a proposed nuclear plant in Cherokee County, S.C.

Approval would mark a major change in the Carolinas, where utilities have been required to put a plant in operation before recovering the expense. That approach, Duke Chief Executive Jim Rogers has said, would put too much strain on Duke, particularly in building a nuclear plant that could take a decade to complete.