Duke Energy Indiana and Reliable Energy Inc. have reached a settlement concerning Duke Energy’s proposal for a new natural gas plant at the Cayuga Generating Station in Vermillion County, Indiana. The agreement involves conducting an engineering study to assess the feasibility of selling the site’s existing coal units to third parties.
The settlement aligns with executive orders from Indiana Governor Mike Braun, which emphasize evaluating coal unit retirements and expanding state power supplies. “The settlement is aligned with Indiana Governor Mike Braun’s recent executive orders aimed at making sure there’s a careful evaluation before retiring coal units and encouraging additions to the state’s power supplies,” said Duke Energy Indiana President Stan Pinegar.
If approved by state utility regulators, Duke Energy will solicit interest in purchasing the coal units once two proposed gas units are operational in 2029 and 2030. The construction schedule, estimated cost, or future operation of these new gas units will not be affected by this process.
Reliable Energy President Savannah Kerstiens highlighted the importance of this agreement for maintaining reliable power generation within the state. “This agreement represents a meaningful step toward preserving reliable, in-state power generation for Hoosiers,” she stated.
Duke Energy Indiana serves approximately 920,000 customers across a 23,000-square-mile area as Indiana’s largest electric supplier. Its parent company, Duke Energy, headquartered in Charlotte, North Carolina, is one of America’s largest energy holding companies.
For further information about Duke Energy’s initiatives and updates on their energy transition efforts, visit duke-energy.com or follow them on social media platforms such as X and LinkedIn.
Contact: Angeline Protogere
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