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Florida nuclear project slowing down

Progress: Expects Slower Schedule For Florida Nuclear Project – WSJ.comNEW YORK (Dow Jones) 19 Jan 2010 -Progress Energy Inc. (PGN) said it expects to slow down the schedule of a nuclear power plant it is planning in Florida, following a recent decision by state regulators not to increase electricity rates.Executives from the company said they are looking to slow down and spread out spending on a dual-reactor nuclear power plant in northern Florida’s Levy County.

The company expects to file an update analysis of the plant later this year, they said during a conference call Tuesday.”It will have to slow down, and money will have to be spent slower,” said Chairman and Chief Executive Bill Johnson, who during the call hinted at additional cuts in capital spending the company will detail next month.Progress is the second Florida utility to signal a pullback in new nuclear build as regulators take a hard line on rate increases in the face of tough economic conditions in the state. FPL Group Inc. (FPL) suspended $10 billion in capital projects last week, including new reactors at the Turkey Point nuclear plant

Progress: Expects Slower Schedule For Florida Nuclear Project – WSJ.com

January 20, 2010 - Posted by Christina Macpherson | business and costs, USA | antinuclear, nuclear, nuclear costs, nuclear spin