Duke submits loan guarantee application for new nuclear units
"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.
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MANILA - Phillipines Presidential spokesman Salvador Panelo said Energy Secretary Alfonso Cusi made the proposal during last Monday's Cabinet meeting in Malacaaang. "Secretary Cusi likewise sought the approval of the issuance of a proposed executive order for the inclusion of nuclear power in the country's energy mix as the Philippines is expected to the rapid growth in electricity and electricity demand, in which, 24/7 power is essential and necessary," Panelo said in a statement.
Panelo said Duterte would study the energy chief's proposal. In the 1960s until the mid 80s, the late president Ferdinand Marcos adopted a nuclear energy program and…