Duke Energy Indiana and Reliable Energy Inc. have reached a settlement regarding the proposal for a new natural gas plant at the Cayuga Generating Station in Vermillion County, Indiana. This agreement includes an engineering study to assess the feasibility of selling existing coal units to third parties.
If approved by state utility regulators, Duke Energy Indiana will issue a request for proposals to gauge interest in purchasing the coal units. These units may be available for sale after two proposed gas units become operational in 2029 and 2030.
“The settlement is aligned with Indiana Governor Mike Braun’s recent executive orders aimed at making sure there’s a careful evaluation before retiring coal units and encouraging additions to the state’s power supplies,” said Stan Pinegar, President of Duke Energy Indiana. “The new natural gas units we’ve proposed add additional, highly efficient power capacity to Indiana’s electric grid.”
Reliable Energy President Savannah Kerstiens stated, “This agreement represents a meaningful step toward preserving reliable, in-state power generation for Hoosiers.” She credited Governor Braun and Secretary Jaworowski’s leadership as instrumental in achieving this outcome.
The settlement stipulates that the process will not impact the construction schedule or costs associated with the new gas units.
Duke Energy Indiana provides approximately 6,300 megawatts of electric capacity to around 920,000 customers across its service area. Its parent company, Duke Energy, headquartered in Charlotte, North Carolina, serves millions of customers across several states and owns significant energy capacity.
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