Duke Energy Spends a Fraction of Earnings on Ash Cleanup

Aljazeera America reported that despite earning $6.2 billion in revenue during the first quarter of 2014, Duke Energy (NYSE:DUK) spent only about $15 million to clean up a coal ash leak in North Carolina. Frank Holleman, an attorney with the Southern Environmental Law Center told Aljazeera he believed that Duke could be paying more towards the cleanup.

As quoted in the publication:

The January spill of thousands of gallons of arsenic-laden coal ash into the Dan River from a defunct power plant in Eden, North Carolina, brought Duke under increased scrutiny from environmental groups and federal prosecutors, who have subpoenaed documents related to the spill from both the company and state environmental regulators as part of a criminal investigation into the accident.

Click here to read the full Aljazeera America article.