NC regulator: Nearly $100 million bond needed to contest gas plant

natural gas power plant april elp

RALEIGH, N.C. (AP) — North Carolina electricity regulators are dismissing a bid to stop a $1 billion natural gas power plant because opponents didn't post a nearly $100 million guarantee to cover costs of construction delays.

The North Carolina Utilities Commission on Tuesday dismissed an appeal by the advocacy groups NC WARN and the Climate Times.

The commission in March approved the Asheville power plant to replace a coal-fired Duke Energy Corp. plant.

Regulators told the groups to post a $98 million bond to appeal the decision, estimating the resulting construction delay would raise costs by that amount. The groups didn't post the bond.

Durham-based NC WARN called the high bond a way to thwart reconsideration of a power plant that ties consumers to fossil-fueled power for decades instead of shifting to renewables.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Latest Energy Jobs

View more Job Listings >>

Archived Articles

PennEnergy Articles
2008 | 2009 | 2010 | 2011 | 2012 | 2013

OGJ Articles
2011 | 2012 | 2013

OGFJ Articles
2011 | 2012 | 2013

Power Engineering Articles
2011 | 2012 | 2013

Power Engineering Intl Articles
2011 | 2012 | 2013

Utility Products Articles
2011 | 2012 | 2013

HydroWorld Articles
2011 | 2012 | 2013

COSPP Articles
2011 | 2012 | 2013

ELP Articles
2011 | 2012 | 2013