Duke Energy has requested a cancellation of development for the Lee Nuclear power project.
The request was made to the North Carolina Utilities Commission (NCUC) on behalf of Duke Energy's subsidiary Duke Energy Carolinas in the US.
This move follows the recent bankruptcy of Westinghouse Electric Company, a subsidiary of Toshiba that was involved in the project.
While risks and uncertainties related to the Lee Nuclear project have become too substantial, Duke Energy Carolinas is expected to use its license to develop a new nuclear project at the Lee site.
In addition, the subsidiary has urged the NCUC to allow it to increase its annual revenue by around $647m, which represents an overall average rate increase of 13.6% across all customer groups.
The proposal includes around a 16.7% increase in rate for residential customers and a 10.9% increase for commercial and industrial customers. Duke Energy Carolinas plans to use around half of the benefits from the increased rate to invest in new clean energy projects.
Duke Energy North Carolina president David Fountain said: “Through smart investments in cleaner energy plants and renewable resources, safely managing coal ash, and the grid that powers our lives and improves reliability, we are focused every day on providing customers increasing value and laying the foundation for a smarter energy future.
“As our state grows, and as we think about the future energy infrastructure required to serve our customers, a smarter grid will facilitate cleaner energy sources and provide customers the tools they need to make more informed energy decisions.
“We are committed to smart investments that balance the energy needs of our customers with competitive rates.”
Duke Energy Carolinas supplies power for two million households and businesses in central and western North Carolina.