NC regulator: Nearly $100M bond needed to contest gas plant

RALEIGH, N.C. (AP) — North Carolina electricity regulators are dismissing a bid to stop a $1 billion natural gas power plant because opponents didn’t post a nearly $100 million guarantee to cover costs of construction delays.

The North Carolina Utilities Commission on Tuesday dismissed an appeal by the advocacy groups NC WARN and the Climate Times.

The commission in March approved the Asheville power plant to replace a coal-burning Duke Energy Corp. plant.

Regulators told the groups to post a $98 million bond to appeal the decision, estimating the resulting construction delay would raise costs by that amount. The groups didn’t post the bond.

Durham-based NC WARN called the high bond a way to thwart reconsideration of a power plant that ties consumers to fossil-fueled power for decades instead of shifting to renewables.

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