This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

North Carolina City Asks Duke to Cut Its Coal Reliance

Stocks in this article: DUK

"Replacing the coal plant with homegrown clean energy will clean our air and our water and boost our economy," Martin said. "It's the right choice for Asheville and a victory for our community."

The university town of 85,000 people in the Blue Ridge Mountain range had talked about the impact of global warming on the region for years. Tourism is critical to the economy in the western part of the state. People visit for hiking, fishing and whitewater rafting.

Wanting to maintain the area's natural beauty, the city in 2007 began studying ways to reduce its carbon footprint. Two years later, Asheville adopted a Sustainability Management Plan, calling for an 80 percent reduction in carbon emissions by 2030.

As part of that plan, Asheville installed more than 3,000 energy-efficient streetlights, improved the infrastructure and management of buildings, and promoted fuel conservation. But with the Duke Energy coal-fired plant, some feared Asheville would never reach its ultimate goal.

So the City Council approved a resolution Oct. 22 supporting a clean energy economy -- and urging Duke Energy to help Asheville reduce its carbon footprint.

"Burning coal is the largest single source of carbon emissions in the Asheville area, releasing emissions annually equivalent to 500,000 cars," the resolution said.

The city said the region's "beauty, clean air and water are vital" to the region's economy, and that western North Carolina is a hub for clean energy development.

The resolution also noted that North Carolina filed an enforcement action against Duke Energy in March because the Asheville plant "poses a serious danger to the health, safety and welfare" of people and "serious harm to the water resources of the state."

The resolution said Duke Energy could help the city meet its carbon reduction goals by "decreasing its reliance on fossil fuels, including transitioning from coal to electricity provided by clean renewable energy sources."

The city also called on Duke to continue and expand its investment in programs for renewable energy, energy efficiency and energy conservation.

But the resolution didn't ask Duke to shutter the plant.

2 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs