DUKE PASSES ON—COSTS

As Milton Friedman said, “There is no free lunch.” Or, to put it in New Energy terms, as we establish the cost of emissions, somebody's got to pay it. (Tip of the NewEnergyNews cap to Tim Conver.)

Duke reveals energy-efficiency plan; customers to pay fees
May 7, 2007 (Triangle Business Journals via Yahoo Finance)

WHO
Duke Energy, its customers, the North Carolina Utilities Commission

WHAT
A new energy efficiency program to replace the building of power plants

WHEN
The program cannot be instituted until the North Carolina Utilities Commission approves it.

WHERE
North Carolina’s “western triangle” region, which includes Durham and Chapel Hill. The company is based in Charlotte, N.C.

WHY
Duke has been considering the building of new plants. It claims this program will save 1700 megawatts over 4 years for 10% less than the cost of plants generating that amount of electricity.
Customers will pay a fee ($0.001129 per kilowatt-hour/residential customers, $0.000940 per kilowatt-hour/nonresidential customers in the 1st year). Incentives will prompt customers to save energy (ex: credit can be earned by turning off A/C during peak usage)

QUOTES
“Earlier this year, Duke Energy sought regulatory approval from the Utilities Commission for two 800-megawatt power plants on the border of Cleveland and Rutherford counties. The commission approved only one of the units.”