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New Price Tag Is A Stop Sign For Cliffside Project

November 16, 2006

FOR IMMEDIATE RELEASE

Contact:
Michael Shore, Senior Air Policy Analyst, (828) 582-3141, mshore@environmentaldefense.org

(November 16, 2006 - Raleigh, NC) Duke Energy Carolinas today announced that its proposed coal-fired Cliffside Project will cost $3 billion. Last June Duke Energy said the project would cost $2 billion. The following statement on the $1 billion rise in cost can be attributed to Michael Shore, senior air policy analyst with the North Carolina Office of Environmental Defense.

“The revised $3 billion price tag is a big red stop sign for the Cliffside project. The $1 billion increase is mind boggling. It should send Duke Energy and the utility commission running back to the drawing board to re-think how to meet energy demand in this state.

“The cost of clean, renewable energy keeps on coming down, but the cost of dirty coal keeps on rising. Energy efficiency and local renewable energy sources will enable us to meet demand and keep prices low.”