water resource management, NC, SC:  “This will be the biggest economic issue of your lifetime” – Unknown economics professor, Davidson College 1982

“Today is a beautiful day, a gorgeous day for a settlement concept to be proposed to you,” S.C. Deputy Attorney General Bob Cook told the bi-state commission. “I’m here to tell you today that the settlement concept is not only a better result, but it’s a fair resolution for both states.”

The deal is built from a compact that a 70-member stakeholder group from both states previously crafted and signed in August 2006. That pact, called the Comprehensive Relicensing Agreement, is required for the renewal of Charlotte-based Duke Energy Corp.’s (NYSE:DUK) 50-year federal license to use the Catawba to generate electricity. The renewal is still pending before the Federal Energy Regulatory Commission.

The new settlement deal places strict drought protocols on any entity that pulls water from one of Duke Energy’s reservoirs along the river.

via Settlement reached in N.C.-S.C. water war | Charlotte Business Journal.