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Sun May 6, 2012, 03:45 PM

Estimated cost of Florida's Levy County Nuclear project now $19-24 billion [View all]



If approved in its entirety, Progress Energy's total 2013 NCRC charge would be $5.09 on a 1,000-kilowatt-hour (kWh) residential bill beginning with January 2013 billing (compared to $2.86 in 2012). As a result of the previously announced, FPSC-approved rate settlement agreement between Progress Energy and consumer advocates, the portion of the NCRC charge related to the Levy County nuclear project will increase to $3.45 on a 1,000-kWh residential bill in 2013 (compared to the 2012 rate of $2.67) and will remain fixed through 2017. In addition, the utility has requested to adjust the Crystal River Nuclear Plant upgrade-related portion of the NCRC charge to $1.64 on a 1,000-kWh residential bill in 2013 (compared to $0.19 in 2012).

The Crystal River Nuclear Plant has been safely shut down since a delamination – or separation – was discovered within the wall of the plant's containment building during a scheduled maintenance outage in the fall of 2009. The company and outside experts are conducting a thorough and systematic engineering analysis and review and are assessing options to repair the containment building and return the plant to service in 2014.

Also included in the utility's filing are updates to the Levy County nuclear project schedule and cost. Due to lower-than-projected customer demand, the lingering economic slowdown, uncertainty regarding potential carbon regulation and current, low natural gas prices, the company is shifting the in-service date for the first Levy unit to 2024, with the second unit following 18 months later. The revised schedule is consistent with the approach the utility publicly discussed after announcing the recent rate settlement agreement. Although the scope and overnight cost for the Levy County nuclear project – including land acquisition, related transmission work and other required investments – remain essentially unchanged, the shift in schedule will increase escalation and carrying costs and raise the total estimated project cost to between $19 and $24 billion.

On April 27, the Nuclear Regulatory Commission (NRC) issued the Final Environmental Impact Statement for the project. Based on its comprehensive review, the NRC has determined that there are no environmental impacts that would prevent the agency from issuing the combined operating license for the construction and operation of the proposed reactors. This is an important milestone for the project.


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Arrow 6 replies Author Time Post
Reply Estimated cost of Florida's Levy County Nuclear project now $19-24 billion [View all]
jpak May 2012 OP
jonthebru May 2012 #1
kristopher May 2012 #2
kristopher May 2012 #3
kristopher May 2012 #4
Gregorian May 2012 #5
kristopher May 2012 #6