U.S. Energy Department Takes Duke Waste

U.S. Energy Department takes Duke waste | UPI.com

Duke Energy (NYSE:DUK) announced it has signed a contract with the U.S. Department of Energy for the disposal of used nuclear fuel.

The nuclear waste from Duke's proposed William States Lee III Nuclear Generating Station will be accepted by the Energy Department and permanently disposed of, under the Nuclear Waste Policy Act of 1982 which assigns responsibility to the department for permanent disposal of used fuel from nuclear power plants.

It also specifies the U.S. Nuclear Regulatory Commission cannot license a new nuclear power plant unless there is a fuel disposal contract.

Duke will pay a $1 per megawatt-hour fee for electricity generated and sold from Lee Nuclear.