Duke Energy apparently didn't make the short list for federal loan guarantees on nuclear plant construction, but isn't giving up on the possibility.

The Wall Street Journal reported last week four nuclear power projects had been selected for federal loan guarantees totaling $18.5 billion. The federal guarantees insure that the selected projects will be paid for and lower the utilities' costs for financing.

Duke's proposed nuclear power plant in Cherokee County was not among the four projects that were selected for the federal guarantees, which were offered to projects that are further along in the licensing and planning process, according to the Wall Street Journal report.

Duke spokeswoman Rita Sipe confirmed Duke applied for the federal loan guarantees and that the proposed William States Lee III nuclear facility project was one of 14 projects under consideration by the U.S. Department of Energy.

"Duke Energy was not selected in the first group of applicants for due diligence review for a loan guarantee, but is continuing to work with the Department of Energy on a loan guarantee as this program advances," Sipe said." We continue to update our loan guarantee application to remain in the program in the event additional funding is allocated or should other changes occur. And, we are continuing with our licensing work for the proposed Lee Nuclear Station overall to apply for the guarantees."

One company that is in line for a federal guarantee is South Carolina Electric and Gas, which is working with Santee Cooper to construct two new nuclear reactors in Jenkinsville. Recently, the Wall Street Journal speculated that Duke may wish to partner with SCE&G on the Jenkinsville project, but subsequent published reports debunked that assertion.

Duke, meanwhile, has said it is exploring partnership opportunities for the proposed Cherokee County facility.

While a spokesman for SCE&G did not return a call for comment Friday, The State newspaper in Columbia quoted an SCE&G official as saying it was not yet committed to taking federal loan guarantees on the Jenkinsville nuclear project and was trying to ascertain what federal requirements might be attached.

Sipe said the 14 projects submitted for consideration of federal loan guarantees totaled $122 billion. The federal loan guarantees that are being offered total $18.5 billion, which is enough for just a few new reactors.

Currently, the William States Lee III project in Cherokee County has an estimated price tag of about $11 billion. The long licensing process for the facility still is ongoing.