Price of coal gasification plant soars
EDWARDSPORT, INDIANA - Duke Energy officials say the cost of the coal-gasification power plant it's building in southwestern Indiana has risen another $150 million, boosting the project's estimated price to $2.5 billion.
Officials of Charlotte, N.C.-based Duke Energy said that the 630-megawatt plant's cost has gone up because its design has required more steel, piping, electric cable and other materials than originally expected. And the latest increase won't be the project's last.
Duke Energy Indiana President Jim Stanley says the utility will provide another cost revision by next March covering labor, engineering, procurement and plant startup costs.
This price increase and future increases must be approved by state regulators before they can be passed onto Duke ratepayers.
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The industry’s price cap, indicative of the average annual bill for a typical household, is expected to decrease from the current £1,928,…
