Report: Duke Energy Has Squandered Billions in Failed Natural Gas and Nuclear Projects
WASHINGTON – "Since 2013, Duke Energy and its partners have scrapped natural gas pipelines and nuclear power plants totaling $11.6 billion, according to a new report by the Environmental Working Group.
For most businesses, this record of blowing billions of dollars on one failed project and boondoggle after another would send finances reeling and the executives in charge packing.
But not when you are the nation’s largest investor-owned electric utility, with a captive ratepayer base of 7.7 million across six states, and state lawmakers and regulators in your pocket who let you pass those losses onto customers through new fees and rate increases."
-- Alex Formuzis, Environmental Working Group