Summary
Duke Energy Indiana, Inc., a subsidiary of Duke Energy Corporation, has filed a motion with the Indiana Utility Regulatory Commission (IURC) requesting an increase in the approved project cost for its Edwardsport clean coal gasification plant. The estimated cost has risen from $2.35 billion to $2.88 billion. This upward revision is attributed, in part, to potential disputes surrounding the scope of discovery requests, leading the company to seek a delay in the procedural schedule and hearings from March 2011 to early June 2011. In addition to the cost increase and schedule adjustment, Duke Energy Indiana is also requesting the expeditious processing and implementation of periodic IGCC Riders, subject to refund. This aims to mitigate the continuous accrual of financing costs on the project. The company is maintaining the currently scheduled hearings for IGCC-5 and IGCC-6 in late March 2011. These requests are pending review and approval by the IURC.
Key Highlights
- 1Duke Energy Indiana is requesting a significant increase in the approved project cost for the Edwardsport clean coal gasification plant, from $2.35 billion to $2.88 billion.
- 2The company is seeking a delay in the procedural schedule and hearings for the Edwardsport project from March 2011 to early June 2011.
- 3Potential disputes over discovery scope are cited as a reason for the requested schedule modifications.
- 4Duke Energy Indiana has requested the expedited processing and implementation of periodic IGCC Riders, subject to refund.
- 5The goal of the IGCC Rider request is to prevent undue accrual of financing costs on the project.
- 6Hearings for IGCC-5 and IGCC-6 are slated to proceed as scheduled in late March 2011.
- 7All requests are subject to review and approval by the Indiana Utility Regulatory Commission (IURC).