Monday, January 18, 2016
Ind. Gov't. - "Environmental, consumer groups join settlement with Duke Energy on Edwardsport plant"
The ILB has had many, many posts on various issues relating to the Duke Energy Edwardsport coal gasification plant. Re the issue of charging ratepayers for certain costs, Rod Spaw reported Friday in the $$ Bloomington Herald-Times in a story that began:
John Russell has a story headed "Edwardsport plant foes finally reach settlement with Duke" in the IBJ.
Nine years of litigation over the cost of Duke Energy’s Edwardsport coal gasification plant could end if the Indiana Utility Regulatory Commission accepts a proposed settlement filed Friday with the state agency.
If it is approved, Duke Energy ratepayers will not be charged a total of $87.5 million in operating and maintenance costs incurred since Duke declared the Edwardsport power plant operational in June 2013.
Coupled with an earlier cap on construction costs for the 618-megawatt, coal-fired electric generating plant, ratepayers will not be charged for about $1 billion in costs disallowed during the years of litigation.
“We look back at the long slog, and we feel good about our work to date,” said Kerwin Olson, executive director of the Citizens Action Coalition, one of the intervening groups. “It’s time to recognize what our mission is, and our mission is to protect ratepayers to the best of our ability."
Plant construction costs that Duke can recover through electric rates were capped at $2.595 billion in a separate 2012 agreement, which left an estimated $900 million in plant costs to be borne by the utility and its shareholders.
If accepted by the IURC, Olson said, the new settlement effectively will end litigation through the end of 2017 related to the Edwardsport plant, which is located in Knox County.
Posted by Marcia Oddi on January 18, 2016 12:33 PM
Posted to Indiana Government