Duke Energy Working to Make Way for New Nuclear

In a conference call detailing Duke Energy's latest quarterly performance, CEO Jim Rogers talked about some of the activities the company is undertaking in conjunction with plans for new nuclear build:

Rogers said he's pushing for new N.C. legislation to allow the company to recoup financing costs from nuclear plant construction before a project is completed. Current N.C. law allows for costs to be passed onto consumers only after power plants are up and running.

A new law would allow the company to stay financially fit during the construction process for the expensive twin reactors, estimated to cost up to $3 billion each, Rogers said.

He cited a new study from the Electric Power Research Institute in California, the research arm for the electric power industry.

The study concludes the country needs about 58 new nuclear reactors by 2030 to meet growing electricity demand.

"There are a set of things that are not totally in our control but critical to our long-term success," Rogers said of the company's future financial performance. "We need to get the right legislative package in place in the states where we operate. ... That's the challenge we have in front of us."

For more details when it comes to Duke's plans for conservation, click here.