PLAINFIELD, Ind., Dec. 27, 2012 /PRNewswire/ -- Duke Energy Indiana President Doug Esamann today issued the following statement in response to the Indiana Utility Regulatory Commission's (IURC) approval of the Edwardsport settlement agreement.

(Logo: http://photos.prnewswire.com/prnh/20040414/DUKEENERGYLOGO)

"Today the Indiana Utility Regulatory Commission approved a settlement agreement finalized in April 2012 between Duke Energy Indiana and some of the state's key consumer groups involved in regulatory proceedings dealing with the company's Edwardsport coal gasification power plant.

"The decision reduces the amount Duke Energy's Indiana customers will pay for an advanced technology, environmentally cleaner coal power plant and provides clarity to the company for cost recovery on this project.

"With construction virtually complete, Edwardsport has successfully produced its first electricity from gasified coal during start-up and testing. By mid-2013, we expect to place the plant into commercial operation.

"Today's decision resolves key regulatory issues and allows us to focus on bringing into service a plant that will help us meet increasingly strict federal environmental regulations while still using an abundant local resource, Indiana coal.

"Edwardsport will serve the electric energy needs of our Indiana customers for decades to come."

The Indiana Utility Regulatory Commission news release and order can be viewed at this link: http://www.state.in.us/iurc/index.htm.

Duke Energy Indiana's operations provide approximately 6,900 megawatts of owned electric capacity to approximately 790,000 customers, making it the state's largest electric supplier.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com. 

SOURCE Duke Energy