nuclear-news

Progress Energy to continue getting nuclear advance, “dumb money”, from customers

Senators reject efforts to repeal so-called ‘nuclear tax’, Miami Herald, 7 Feb 12, Some call it a nuclear tax. Others call it a fee. Whatever the name, Florida legislators decided Monday they don’t want to take it off the electricity bills of Progress Energy and Florida Power & Light customers — even though the companies gave legislators no guarantees that they will build the nuclear plants the money is being collected to construct.

The Senate Communications, Energy and Utilities Committee voted down a proposal by Sen. Mike Fasano, R-New Port Richey, Monday to repeal the so-called nuclear cost recovery clause embedded in customer bills.

Fasano, who has tried and failed to repeal the proposal since 2007,
said the “nuclear tax” is a giveaway to utility companies with nothing
in return for customers. He said Progress Energy has collected more
than $500,000 towards the construction of two proposed nuclear plant
in Levy County but recently cancelled its construction contract with
the company slated to build the units while FPL customers have paid a
similar amount.

“The bottom line is Progress Eenrgy will never build those nuclear
power plants,’’ Fasano said. “If we don’t take away that cost recovery
charge customers will continue to be charged for over $1 billion and
we’ll never see those dollars back once those plants are not
built.”…..

Susan Glickman of the Southern Alliance of Clean Energy, told the
committee that Wall Street calls the arrangement Florida has with the
utilities “dumb money,” a practice by which customers loan money to
utilities companies without having to show a return or having to pay
capital costs.

“Neither of the utilities has guaranteed that they are committed to
building these projects,” she said. …. “We need to get rid of this
unfair practice which privatizes the profits and socializes the
risk,” she said. “You’ve taken the risk off of the utilities — these
Fortune 500 companies — and you’re putting it onto ratepayers who can
ill-afford it at this time.”
http://miamiherald.typepad.com/nakedpolitics/2012/02/some-call-it-a-nuclear-tax-others-call-it-a-fee-florida-legislators-decided-monday-they-dont-want-tocallit-off-the-electri.html#storylink=cpy

February 8, 2012 - Posted by Christina Macpherson | politics, USA