NC Treasurer wants investigation into coal ash spill - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

NC Treasurer wants investigation into "decisions that led" to coal ash spill

Posted: Updated:
NC Treasurer Janet Cowell is asking for an independent investigation into decisions that led to the coal ash spill at a Duke Energy facility NC Treasurer Janet Cowell is asking for an independent investigation into decisions that led to the coal ash spill at a Duke Energy facility

RALEIGH, NC (WECT/AP) - The North Carolina official who manages public pension funds says she'll vote against a Duke Energy board member in hopes that a replacement will deal with a coal ash spill that coated 70 miles of a river with toxic sludge.

State Treasurer Janet Cowell declared Wednesday she'll vote against Duke Energy director Carlos Saladrigas's re-election at the company's shareholder meeting on Thursday. A letter sent from Cowell's office to the Chair of the company's Regulatory Policy and Operations Committee states she wants a third vacancy on the board committee overseeing company operations.

"We feel its best that folks who have been on the board and overseeing the regulatory issues to be replaced by people who have more expertise specifically on coal ash disposal and some of the environmental issues they are grappling with right now," Cowell said while making an appearance Wednesday at WECT-TV in Wilmington.

A Cowell spokesman says North Carolina's pension funds own less than one-tenth of 1 percent of Duke Energy shares. Cowell put the total at more than 400,000 shares, which she says have underperformed both the Standard & Poor's 500 and comparable utility industry stocks.

"Since the coal ash challenges the company has had, the stock has underperformed," Cowell said in an interview. "So, we're asking as a shareholder, and using the influence we have as a shareholder of Duke Energy to ask for an independent investigation in order to more quickly move forward on the coal ash issue."

A company spokesman noted the company's directors have told disgruntled shareholders they are developing plans to deal with coal ash.

Copyright 2014 WECT. All right reserved. The Associated Press contributed to this report.

  • PoliticsMore>>

  • UPDATE: Coal ash bill approved by House & Senate, headed to Governor's desk

    UPDATE: Coal ash bill approved by House & Senate, headed to Governor's desk

    Wednesday, August 20 2014 11:44 PM EDT2014-08-21 03:44:44 GMT
    Republican leaders in the General Assembly say they have reached a compromise deal on implementing new coal ash regulations, and forcing Duke Energy to close all 33 of its coal ash ponds across North Carolina. According
    House and senate lawmakers in the NC General Assembly passed a bill mandating cleanup of all Duke Energy coal ash ponds by the year 2029. The action follows a massive spill of coal ash into the Dan River in February from a company site in Eden. You can click on a link inside this story to see the specifics of the bill, which is now headed to the Governor's desk.
  • Michael Lee sworn in as state senator

    Michael Lee sworn in as state senator

    Wednesday, August 20 2014 11:27 PM EDT2014-08-21 03:27:44 GMT
    During a swearing-in ceremony Wednesday afternoon, Wilmington attorney Michael Lee became a state senator until January, although he hopes the upcoming election will extend his tenure. Lee is finishing
    During a swearing-in ceremony Wednesday afternoon, Wilmington attorney Michael Lee became a state senator until January, although he hopes the upcoming election will extend his tenure.
  • Changes to film grant program will go in front of lawmakers

    Changes to film grant program will go in front of lawmakers

    Monday, August 18 2014 9:51 PM EDT2014-08-19 01:51:31 GMT
    The Film and Entertainment Grant Fund proposal will go back in front of state lawmakers tomorrow and Wednesday, after House and Senate conferees made slight changes to the proposal already approved in
    It appears lawmakers are moving forward with a grant fund that will replace the current Film Incentive Tax Credit that has been in place to lure film and television productions to North Carolina.
Powered by WorldNow

310 Broadway
Cape Girardeau, MO 63701

FCC Public File
publicfile@kfvs12.com
573-335-1212
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KFVS12. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.