Duke Energy gets criticism for NC coal-fired generated
CHARLOTTE, N.C.—Duke Energy Corp.'s chief executive got an earful Thursday at the company's annual meeting, as shareholders sounded off about the utility's decision to build a new coal-fired generator in western North Carolina.
Jim Rogers answered questions for nearly 90 minutes, and acknowledged afterward that he knew going in that the expansion of Duke's Cliffside Steam Station would be a "topic of discussion."
"I thought it was very important for me to address the issue upfront," Rogers told reporters at the end of the two-hour meeting. "And secondly, it was important for me to listen carefully, thoughtfully and to digest what was on their mind."
Duke Energy is building an 800-megawatt generator at Cliffside, about 50 miles west of Charlotte. The company plans to close four older generators when the project is complete in 2012.
Several environmental groups have asked a judge to halt the $2.4 billion project, arguing the state air quality permit for the project violates federal law.
Before Thursday's meeting, shareholders were greeted by nearly two dozen environmental activists protesting Cliffside, and what they said is Duke's role in contributing to global warming and air pollution, as well as the practice of mountaintop-removal coal mining. Inside, Rogers said he struggled with the decision to build the new unit.
"It works because it will be one of the most efficient plants on our system," he said.
The meeting came a little less than a week after Duke Energy reported a 30-percent jump in first-quarter profit.
Along with the Cliffside plant, the company is building a coal gasification power plant in southwest Indiana. The company also has plans to build two natural gas-fired plants in North Carolina and a nuclear plant in South Carolina.
Duke shares rose 8 cents to $18.55.
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