This Day On The Street
Continue to site
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

North Carolina City Asks Duke to Cut Its Coal Reliance

"We just can't say that by 2030 we're going to shut down the coal plant and everybody is going to get their juice from their backyard," said Duncan McPherson, chairman of Asheville's Sustainability Advisory Committee on Energy and the Environment. "That would be great. But I don't think that's realistic. We're going to need to work with the utility company to get there."

The resolution is intended as a roadmap to a long-term plan for protecting air and water quality and to establish a partnership with Duke Energy in moving toward reducing carbon dioxide, McPherson said.

"The vast majority of our electricity comes from coal right now, and if we're going to reduce that by 80%, we have to have our coal electricity providers engaged in that process," McPherson said.

He's optimistic Duke Energy will agree that coal is not the long-term answer.

"Their industry is shifting. They're going to need to evolve with it. I think resolutions like this -- communities like Asheville -- can really make a difference. The more they hear it, the more they see it, the more it's going to be on their radar and agenda," he said.

Martin said the resolution was important because it acknowledges Asheville can't meet its carbon reduction goals unless Duke transitions from coal to clean energy.

She said the Asheville coal plant is the largest source of carbon dioxide pollution in western North Carolina.

"So we imagine the immediate next steps are deeper investments in renewable energy, deeper opportunities for energy efficiency -- and in the next several years a transition off of coal," she said.

Duke Energy, the nation's largest utility by number of customers and market value, is turning more to solar and other forms of energy while reducing its reliance on coal, Culbert said.

"By the end of this year, Duke Energy will have retired seven of the 14 coal plants in the state," she said.

Still, Duke will continue using coal because it has a state-mandated responsibility to provide reliable electricity at the lowest reasonable cost.
3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 0.21%
FB $116.73 0.00%
GOOG $691.02 0.00%
TSLA $247.54 -0.07%
YHOO $36.59 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs