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New Nuclear Generation

New Nuclear Generation. Ellen Ruff President, Duke Energy Carolinas. Overview. Why Nuclear? NRC Approval Process Significant Capital Investment Investment Challenges. Why New Nuclear?. Growing customer energy demand Greenhouse gas emissions-free generation source

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New Nuclear Generation

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  1. New Nuclear Generation Ellen Ruff President, Duke Energy Carolinas

  2. Overview • Why Nuclear? • NRC Approval Process • Significant Capital Investment • Investment Challenges

  3. Why New Nuclear? • Growing customer energy demand • Greenhouse gas emissions-free generation source • Reduces dependence on foreign fuels • Natural gas price volatility

  4. Cherokee County, S.C. Site (COL) William States Lee III Nuclear Station (artist rendering)

  5. Energy Policy Act of 1992New NRC Licensing Process Early Site Permit * Combined License * Construction Construction Acceptance Criteria * Operation Design Certification * * Public Comment Opportunity

  6. U.S. Energy Policy Act • Signed August 2005 • Financial Incentives: • Production Tax Credit ($18/MW-hr) • Government Loan Guarantees • Standby Support to cover delay costs caused by regulator or public

  7. Energy Policy Legislation • Passed in North and South Carolina in 2007 • Upfront Commission review of nuclear development costs • Ongoing commission review during construction • Ability to recover financing costs during construction • Provisions if project is abandoned Customers and Shareholders benefit.

  8. Next Steps • A framework to take advantage of federal loan guarantees • Opportunities to share project risk • Support for a ROI tied to the degree of project risk

  9. Questions? Ellen Ruff President, Duke Energy Carolinas

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