(RTTNews) - Duke Energy (DUK) has reached an agreement with state regulators in North Carolina, and community groups to permanently close the company's remaining nine coal ash basins in the state. Under the agreed plan, seven of the basins will be excavated, with ash moved to lined landfills. The excavation at the six sites is estimated to be completed in 10 to 15 years. Almost 80 million tons of ash will be excavated from the remaining sites.
Duke Energy said the plan will reduce the total estimated cost to close the nine basins by about $1.5 billion, as compared to the April 1, 2019 NCDEQ order requiring full excavation. The estimated cost to permanently close all ash basins in the Carolinas is now approximately $8 billion to $9 billion, of which approximately $2.4 billion has been spent. The company expects most of the remaining expenditures to occur over the next 15-20 years.
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