By Micah Maidenberg

 

Duke Energy Corp. said it has reached a deal with state regulators and the Sierra Club to address coal-ash management expenses in North Carolina.

The utility company, which has been closing down basins that hold residual waste from coal used to generate power, said Monday the proposed agreement lays out a plan for managing costs between 2015 and 2030.

Under the deal, Duke would reduce customers' costs in North Carolina by $1.1 billion over that timeframe while maintaining its ability to earn returns, the company said.

The agreement is between the North Carolina Attorney General, regulators, the Sierra Club and Duke Energy, the company said. The proposed settlement will be filed with the North Carolina Utilities Commission.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

January 25, 2021 07:38 ET (12:38 GMT)

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