Duke submits loan guarantee application for new nuclear units
CHARLOTTE, NORTH CAROLINA - Duke Energy has submitted the first part of an application for a federal energy loan guarantee to the U.S. Department of Energy (DOE) for its proposed William States Lee III Nuclear Station. This is another step in the process of keeping the new nuclear option available for customers.
"Filing this application with the DOE can lead to long-term benefits for our customers," said Duke Energy CEO Jim Rogers. "Loan guarantees allow utilities to lower capital costs for new nuclear construction, which ultimately leads to lower electricity prices for consumers."
The federal government has decades of experience managing loan guarantee programs, which provide financing for support of critical U.S. infrastructure. The loan guarantee program supporting clean energy was established as part of the Energy Policy Act of 2005. The program will follow defined procedures and practices that include rigorous reviews of all applications.
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers electricity to approximately 4 million U.S. customers in its regulated jurisdictions. The company has approximately 35,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky.
In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
Related News

New clean energy investment in developing nations slipped sharply last year: report
BEIJING - New clean energy investment slid by more than a fifth in developing countries last year due to a slowdown in China, while the amount of coal-fired power generation jumped to a new high, a recent annual survey showed.
Bloomberg New Energy Finance (BNEF) surveyed 104 emerging markets and found that developing nations were moving towards cleaner power sources, but not fast enough to limit carbon dioxide emissions or the effects of climate change.
New investment in wind, solar and other clean energy projects dropped to $133 billion last year from $169 billion a year earlier, mainly due to a slump…