Duke Energy Indiana has reached a settlement with Reliable Energy Inc., representing several of Indiana’s major coal producers, regarding a proposed new natural gas plant at the Cayuga Generating Station in Vermillion County. The agreement is pending approval from the Indiana Utility Regulatory Commission.
If approved, Duke Energy Indiana will conduct an engineering study to assess the feasibility of continued operation of the existing coal units by third parties interested in purchasing them. This follows Governor Mike Braun’s executive orders aimed at evaluating coal unit retirements and enhancing state power supplies.
“The settlement is aligned with Indiana Governor Mike Braun’s recent executive orders aimed at making sure there’s a careful evaluation before retiring coal units and encouraging additions to the state’s power supplies,” stated Stan Pinegar, President of Duke Energy Indiana. He added that the proposed natural gas units would enhance power capacity for Indiana’s electric grid while committing to exploring third-party operations for existing coal units.
The settlement stipulates that this process will not impact the construction timeline, cost, or future operations of the new gas units planned for 2029 and 2030.
Reliable Energy President Savannah Kerstiens commented on the agreement: “This agreement represents a meaningful step toward preserving reliable, in-state power generation for Hoosiers.” She credited Governor Braun and Secretary Jaworowski for their leadership in achieving this outcome, emphasizing its importance for maintaining affordable electricity as Indiana seeks economic growth.
Duke Energy Indiana serves approximately 920,000 customers across a 23,000-square-mile area and provides about 6,300 megawatts of electric capacity. It is part of Duke Energy (NYSE: DUK), one of America’s largest energy holding companies headquartered in Charlotte, N.C., serving millions across several states with significant investments in cleaner energy solutions.
For further information about Duke Energy’s initiatives and updates, visit duke-energy.com or follow their social media channels.
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