Duke Energy Corp (NYSE:DUK) To Remove Coal Ash Released


Dallas, Texas 05/23/2014 (FINANCIALSTRENDS) – Duke Energy Corp (NYSE:DUK) has entered into an agreement with the EPA to assess and remove all coal ash deposits.

The focus of the entire operation will be the Dan River. The EPA will consult with its counterparts in the Fish and Wildlife service during the entire operation. DUK’s river steam station at this location saw coal ash being spilled on February 2, 2014. As per the agreement, the agency will oversee the entire cleaning operation and will be reimbursed by the company for the time and manpower being dedicated to the cleanup.

The agency will make sure that the process adopted by DUK is comprehensive and scientific in nature. The EPA will also ensure that there is no further damage to the ecology of the river and that it complies with both state and federal laws in place. Most importantly, DUK will be monitored to ensure a quick and effective cleanup.

Large area affected by the contamination

The contamination has impacted Virginia and the cleaning operations will happen in both Virginia and North Carolina regions. Hence the Mid-Atlantic and South-East divisions of EPA will work together to enforce the order. With regards to compensation, DUK will have to pay for previous efforts as well as future efforts that will be undertaken by the EPA.

The work will be supervised by both the above mentioned departments. This will be done to ensure that there is proper and complete compliance as per the regulations laid out in the Super Fund Law. Post the clean-up; the company will also have to check if there is any further clean up required at the site. Also all the coal ash must be disposed in the proper containers to prevent any further leakage and contamination.