Duke reaches deal over SNF

7 March 2007

Duke Energy Carolinas and the US Department of Justice have reached a settlement resolving Duke Energy’s used nuclear fuel litigation against the Department of Energy (DoE).

The agreement provides for an initial payment to Duke Energy of approximately $56 million for storage costs incurred through to 31 July, 2005, with additional amounts reimbursed annually for future storage costs.

The settlement relates to a 1983 contract with the DoE for the removal of used fuel beginning in 1998. However, delays in a national repository have left utilities storing used fuel on site.

Under this settlement, the government will reimburse Duke Energy for qualifying storage costs from the U.S. Treasury’s Judgment Fund.

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