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Debate over regulating carbon dioxide has strengthened the case for going forward with Duke Energy's proposed Lee nuclear plant near Gaffney, S.C., CEO Jim Rogers says.
Duke has made no final decision to build the $11 billion nuclear plant, which would be its first since the 1980s. But capping limits on carbon dioxide, which is emitted by Duke's coal-fired plants, is expected to heavily cost utilities. Duke, meanwhile, says it needs to build more power plants to keep up with growing electricity demand.
"The only way we could do it is with nuclear," Rogers said at Monday's Charlotte Energy Summit. "The higher the price (for carbon) goes, the stronger the case for nuclear."
Critics say building more nuclear plants -- Raleigh-based Progress Energy plans one too -- will cost consumers higher electric bills. The N.C. Waste Awareness and Reduction Network last week predicted bills would rise 50 percent to 100 percent if the new nuclear plants, and Duke's expansion of its Cliffside coal-fired plant, are built.
Rogers also reiterated Monday that Duke prefers to build Lee with regional partners to spread costs.
Utilities commissions in both Carolinas have given Duke permission to spend millions in project development costs for Lee. Last June the S.C. Public Service commission approved $230 million in expenses through this year. North Carolina's Utilities Commission approved spending up to $160 million.
