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Duke Energy Settles Issues On Coal Ash Management In North Carolina - Quick Facts

Energy holding company Duke Energy Corp. (DUK) announced Monday it has reached an agreement with Attorney General, Public Staff and Sierra Club on North Carolina coal ash costs. The settlement resolves the last remaining major issues on coal ash management in North Carolina.

The settlement provides immediate and long-term savings for North Carolina customers and certainty to Duke Energy. It resolves all pending issues in North Carolina related to basin closure cost recovery.

The proposed settlement, to be filed with the North Carolina Utilities Commission (NCUC) today, details a plan for coal ash management cost allocation between 2015 and 2030. Over this time frame, Duke Energy will reduce North Carolina customers' costs by approximately $1.1 billion.

This settlement would reduce coal ash costs included in the pending rate requests by 60%, which would provide immediate customer savings, if approved.

The company will also maintain its ability to earn a return on the remaining balance, providing greater confidence in achieving its long-term financial goals and its transition to cleaner energy sources.

Duke Energy is in the process of permanently closing the remaining coal ash basins in the state, with support from the public, regulators, the environmental community and elected officials.

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