A final settlement between Duke Energy Indiana Inc., state regulators and environmental groups is now in the books. The agreement ends years of court battles revolving around who is on the hook for expenses related to the company’s $3.5 billion coal gasification plant in Edwardsport. The utility has agreed to pay around $88 million in operating and maintenance expenses for the facility that began operating in 2013.
The settlement replaces an agreement struck last September.
Provisions of the new agreement signed Wednesday include $5.5 million funded by shareholders for fees including legal expenses. The settlement also includes:
- Duke Energy’s agreement to cease coal-burning and retire at two units at Gallagher Station in New Albany
- $100,000 for fees and expenses to Nucor Steel-Indiana
- Cooperative use of $1.9 million by the Indiana Office of Utility Consumer Counselor and Duke Energy Indiana for a retail rate credit to residential customers, OUCC staff development, consultants and experts in the areas such as power hedging, a $500,000 contribution to the Battery Innovation Center in Crane for battery storage system development in Duke territory and funds for the Indiana Low Income Home Energy Assistance Program
- $1 million to be used by the multiple organizations involved in the settlement: half for the Indiana LIHEAP fund and half for a solar energy project development grant program
You can connect to a copy of the full settlement by clicking here.