Duke Energy expects coal costs to rise (Charlotte)
Duke Energy Corp. foresees coal costs rising through next year and into 2012, according to a company filing with Indiana regulators.
SNL Energy reports that Vincent Stroud, vice president of regulated fuels for Duke (NYSE: DUK), cited the accident that killed 29 miners at Massey Energy’s Upper Big Branch coal mine as one of the factors in the expected increases.
In testimony filed with the Indiana Utility Regulatory Commission, he said the accident “resulted in increased coal mine inspections within a couple of weeks, along with calls for tighter mine regulations and new legislation. As a result, Central Appalachian coal prices have increased over 10% in the two weeks since mid-April.”
The North Carolina retirement system is among eight state pension funds that are pushing for changes to the board of Massey Energy (NYSE: MEE).
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