Staff report
Duke Energy has been selected by the U.S. Department of Energy for new grant funding totaling up to $61.8 million to support reliability and refurbishment projects at coal-fired power plants in Kentucky and North Carolina.
The grant will provide up to $33.4 million for Duke Energy’s East Bend Power station in Rabbit Hash, along with up to $28.4 million for the company’s Roxboro Station units 2 and 3 in North Carolina. Negotiations are now underway to finalize funding amounts for both projects.
Duke Energy filed applications requesting grant funding late last year, as the plants were identified for needed refurbishment of critical components to maintain operational reliability. As energy demand continues to grow across Duke Energy’s service areas, maintaining and enhancing existing power plants remains one of the most efficient ways to deliver dependable service. DOE funding helps to offset the cost of these projects and reduce the amount that would otherwise be borne by customers.
Duke Energy is executing an energy modernization strategy as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.
“We take every opportunity at Duke Energy Kentucky to reduce costs for our customers while continuing to deliver the reliable energy they depend on, and we appreciate the partnership of the Trump administration and DOE in this regard,” said Amy Spiller, president of Duke Energy’s utility operations in Ohio and Kentucky. “These investments at East Bend will strengthen reliability for the communities and businesses we serve while helping lower the cost of necessary upgrades over time.”
The company is working to strengthen the reliability of its generation fleet while identifying opportunities to reduce costs for customers. The announcement comes on the heels of other recent Duke Energy actions designed to reduce long-term customer costs while supporting reliability and growth.
Duke Energy’s electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.
More information is available at duke-energy.com.