Dive Summary:

• Duke Energy is being required to absorb nearly $900 million dollars in costs for the construction of an Edwardsport, Indiana coal gasification plant; the plant was originally supposed to cost $2.6 billion, but has ballooned to $3.5 billion, an increase the utility will have to pay for.
• Duke had an agreement with consumer groups to have its customers pay for the initial cost of $2.6 billion, but the Indiana Regulatory Commission has since approved a new settlement that states the utility must pay any costs over and above that figure.
• Officials from the utility are currently reviewing the agreement, but said it is in the best interest of the public that the project be completed as soon as possible; the plant has a target launch date of mid-2013.

From the article:

Anthony Swinger is a spokesman for the Indiana Office of Utility Consumer Counselor. He says his organization is pleased with the commission’s decision to approve the settlement.

“We believe that this agreement is going to be a benefit to all consumers, that this will protect Duke rate payers from cost overruns, $900 million in cost overruns and that includes both construction costs and financing costs,” Swinger says. ...