nuclear-news

End of plans for Levy nuclear power plant, termination of Crystal River nuclear plant

As part of the revised agreement, recoverable costs for Crystal River Unit 3 will be capped at $1.4 billion, with stockholders covering the first $295 million. Commissioners said in a release that when a plant is retired, the company has a right, by law, to recover the remaining costs from its customers.

Duke will continue to collect fixed amounts for costs associated with the canceled Levy nuclear plant until 2017. However, customers will earn refunds that were in the original 2012 agreement, including $129 million this year, $139 million in 2014, $50 million in 2015 and $70 million in 2016. Customers will also receive a refund of $835 million from insurance proceeds over the Crystal River unit by the end of 2014.

October 18, 2013 - Posted by Christina Macpherson | business and costs, USA