Louisville, Kentucky — Duke Energy Indiana, the state's largest electric utility, says its coal inventory continues to drop, aided in part by a strong late winter burn, but it has no plans at this time to buy any additional coal for 2019, according to a new regulatory filing.
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Register NowBrett Phipps, managing director of fuel procurement for Duke Energy Progress, a Duke Energy subsidiary and affiliate of DEI, jhas told the Indiana Utility Regulatory Commission that the utility burned 11.6 million st over the 12-month period ending February 28, 2019, at its four Indiana plants.
The delivered price of the coal was $2.15/MMBtu. Term sales comprised 99.1% of all coal receipts.
Phipps said Duke has not purchased any coal off a formal solicitation issued several months ago, not is likely to.
The utility's coal stockpile has fallen from nearly 2.3 million st, or a 42-day supply, as of November 30, 2018, to 2.2 million st, or a 41-day supply.
"The decrease in coal deliveries can be attributed to combination of strong burns during the winter months, a balanced coal procurement portfolio, and impacts from an unloading outage," he said late last week.
Phipps said coal markets continue to be distressed amidst changing dynamics such as cheap natural gas, regulatory uncertainty and volatile power prices.
-- Bob Matyi, newsdesk@spglobal.com
-- Edited by Richard Rubin, newsdesk@spglobal.com