Electric bills are rising!

[ChiefJoJo]

A group of investors, led by Goldman Sachs, purchased struggling utility TXU, in the largest private buyout in US history.

The big news was that the buyers promised to axe 8 of the 11 proposed coal-fired power plants they had planned to build. It was the lead story on CBS News last night, and interestingly enough, was followed by a news conference (from when I don't know) of US utilities, which included non other than Duke Energy. I think it was the CEO that made a remark about having to really take on the issue of global warming and make serious greenhouse emission reductions.

It struck me that here was a Duke exec making these type of enviro-friendly statements in the national media, while at the same time in their home state they are planning at least 1-2 additional coal-fired plants. I spoke with a Sierra Club rep last night and she said Duke is trying to rush through approvals at the state utility commission so that they will be grandfathered in before the new COs reduction regs take place. It strikes me as a very slimy underhanded political move to get these plants approved before anyone knows what's happened. But hen again, we know Duke and Progress Energy both have some serious political clout. Doesn't McCrory work for Duke?

[cowboy_wilhelm]

[BUILDIT]

but the fact that the core power company would pursue brand new coal plants in this day and age is unforgiveable.

[Spartan]

How much proffit is Duke making? I'm not opposed to companies making proffit. I agree that you have to be wary of legal monopolies though. From a South Carolinian's perspective, their investment in the Cherokee County plant will be a tremendous asset for that rural county. That site was just sittng there unused since they stopped building it (with the exception of a starring role in The Abyss). They could use the job boost, and the high-tech nature of nuclear technology would serve them well.

[BUILDIT]

How much proffit is Duke making? I'm not opposed to companies making proffit. I agree that you have to be wary of legal monopolies though. From a South Carolinian's perspective, their investment in the Cherokee County plant will be a tremendous asset for that rural county. That site was just sittng there unused since they stopped building it (with the exception of a starring role in The Abyss). They could use the job boost, and the high-tech nature of nuclear technology would serve them well.

[ChiefJoJo]

This slide by me, but the utilites commission approved one Duke Plant last week, at the Cliffside Plant. On the bright side, the commission made some positive statements:

"This conclusion will be based upon a review of the alternatives, including new baseload generation, demand side management, energy efficiency and renewable resources," the commission said in an order. Regulators also questioned whether natural gas and coal are the only viable options for meeting electricity demand in 2012.

Buildit, I tend to agree with what you are saying wrt our energy consumption, but I do think it's highly disengenuous for Duke execs to be making public statements lauding conservation and making bold statements about getting serious about global warming, when bcak home they are trying to rush thru the approval process in advance of potential new greenhouse gas regs.

[BUILDIT]

I have no idea what the duke execs are saying... and if they are saying stuff like that. Then they are just hypocrits, i am just a power guy who likes buildings