Tagged: Progress Energy

A large parcel of undeveloped land near Siler City has been chosen by Duke Energy to take part in the utility's Site Readiness Program. The utility selected a total of 17 sites in the Carolinas, ten of which are in North Carolina. Duke Energy's Jeff Brooks says the 1700-acre Chatham County tract will be assessed for its potential to lure large industry and manufacturing to the area and calls it a "win-win" for everyone.

The North Carolina utility company Progress Energy is among the nations leaders in solar production. Last year the utility company produced almost 70 megawatts of new solar generating capacity. The Solar Electric Power Association (SEPA) says that’s the 8th highest output of all U.S. utility companies.

Progress Energy has reached a tentative deal with the Public Staff on the state Utilities Commission to reduce its request for a rate increase.  The agreement allows a 4.7 percent increase in June, then raises that to 5.7 percent next year.  Progress filed for an 11 percent increase in October.  Public Staff executive director Robert Gruber says it's a fair deal.

"What do they actually need in order to be able to operate reliably and attract investors?  You have to compromise that need with the impact on consumers," Gruber says.

State regulators have accepted the terms of a settlement with Duke Energy over its merger with Progress Energy.

The utility commission's vote was unanimous on the agreement terms announced last week. Duke Energy will move ahead with changes that include Jim Rogers' retirement as C-E-O. He plans to spend another year running the company But spokesman Tom Williams says Rogers could step away sooner.

Duke Energy may have to pay billions of dollars to repair the Crystal River nuclear plant in Florida.

A Charlotte engineering firm says the cost to fix a cracking outer-concrete layer of the containment unit could reach 3-point-4 billion dollars. Utility spokesman Mike Hughes says that's a worst-case scenario.

Mike Hughes: "Including having to do additional repair work that is not part of the planned repair scope."