Printer Friendly

DUKE POWER PURCHASES EMISSIONS ALLOWANCES

 CHARLOTTE, N.C., March 30 /PRNewswire/ -- Duke Power Co.'s (NYSE: DUK) bid for emissions allowances was accepted during the first annual EPA auction, coordinated by the Chicago Board of Trade March 29, 1993.
 "We are pleased that our bid was accepted," Rick Priory, power generation executive vice president, said. "Using market-based allowance trading will help the country achieve the goals of the Clean Air Act and save our customers money."
 The allowance trading system was proposed to Congress by the Environmental Defense Fund (EDF), a national organization that advocates air quality improvement. EDF studies show that national sulfur dioxide compliance costs under the Clean Air Act would be 30 to 50 percent lower if utilities fully utilize the program.
 Purchasing these allowances gives Duke the opportunity to maintain various options to meet Phase II requirements of the Clean Air Act, which start in the year 2000. These options include burning even lower sulfur coal (1 percent to 0.7 percent), purchasing additional allowances, or installing additional emission control equipment.
 "Our emissions are currently low because we use low-sulfur coal and our plants are among the most efficient in the nation," said Priory. "In addition, about 60 percent of our electricity comes from nuclear power, which has no sulfur dioxide emissions."
 Duke Power's strategy for complying with the federally mandated Clean Air Act Amendments contains options that are environmentally effective as well as the most economical for the customers. Emissions from Duke's coal-fired plants are already well below federally approved standards which protect local air quality. The act is not intended to reduce emissions from specific plants, but rather to achieve a 50 percent reduction nationwide.
 -0- 3/30/93
 /CONTACT: Angela Ballard of Duke Power, 704-382-8352 or (Home) 704-785-9543 or 704-594-0681/
 (DUK)


CO: Duke Power Co. ST: North Carolina, South Carolina IN: UTI SU:

CM -- CH008 -- 1112 03/30/93 14:05 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 30, 1993
Words:314
Previous Article:EX ARCADE PRESIDENT BARRED FROM SOLICITING FORMER CUSTOMERS
Next Article:SHAREHOLDERS OF HOME FEDERAL SAVINGS BANK APPROVE MERGER WITH KEYCORP
Topics:


Related Articles
CP&L PURCHASES ALLOWANCES IN EPA AUCTION
DUFF & PHELPS: ILLINOIS POWER COMPANY $300 MILLION DEBT SECURITIES RATED
ILLINOIS POWER COMPANY $110 MILLION NEW MORTGAGE BONDS RATED 'BBB' BY DUFF & PHELPS
SCANA PURCHASES EMISSION ALLOWANCES
PUGET POWER'S CONSERVATION EFFORTS EARN EPA ALLOWANCES
Duke Energy Chairman Urges U.S. Senate to Adopt Cap and Trade System to Address Climate Change.
Duke Energy Comments on Proposed Lieberman/Warner Climate Change Legislation.
Power Costs Would Dramatically Increase under Lieberman-Warner Legislation.
Duke Energy Supports Boucher-Dingell 'Legislative Discussion Draft' to Address Climate Change.
Daily Wrap Up - August 4 - Energy.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters