Duke Energy Florida is just the latest utility to walk away from nuclear,

Duke Energy Florida is just the latest utility to walk away from nuclear, – and towards solar

Power company kills nuclear plant, plans $6 billion in solar, battery investment
Duke Energy Florida is just the latest utility to walk away from nuclear. Ars Technica MEGAN GEUSS – 8/31/2017, On Tuesday, power provider Duke Energy Florida announced a settlement with the state’s public service commission (PSC) to cease plans to build a nuclear plant in western Florida. The utility INSTEAD INTENDS TO INVEST $6 BILLION

in solar panels, grid-tied batteries, grid modernization projects, and electric vehicle charging areas. The new plan involves the installation of 700MW of solar capacity over four years in the western Florida area.There’s excitement from the solar industry, but the announcement is more bad news for the nuclear industry. Earlier this year, nuclear reactor company Westinghouse declared bankruptcyas construction of its new AP1000 reactors suffered from contractor issues and a stringent regulatory environment. Two plants whose construction was already underway—the Summer plant in South Carolina and the Vogtle plant in Georgia—found their futures in question immediately.

At the moment, Summer’s owners are considering abandoning the plant, and Vogtle’s owners are weighing whether they will do the same or attempt to salvage the project.

Duke Energy Florida hadn’t started building the Levy nuclear plant, but it did have plans to order two AP1000 reactors from Westinghouse. Now that Westinghouse company is in dire financial straits, the Florida utility decided that its money is better spent elsewhere.

Just last week, Duke told its PSC that it would have to increase rates by more than eight percentdue to increased fuel costs. But with the new settlement that directs the utility toward solar and storage, customers will see that rate hike cut to 4.6 percent…….

overall, the changes will save residential customers future nuclear-related rate increases. Those customers will see a cost reduction of $2.50 per megawatt-hour (MWh) “through the removal of unrecovered Levy Nuclear Project costs,” the utility said.

The 700MW of solar won’t exactly cover the nameplate capacity of the Levy plant, which was supposed to deliver 2.2 gigawatts to the region. But the Tampa Bay Times wrote that Duke “is effectively giving up its long-held belief that nuclear power is a key component to its Florida future and, instead, making a dramatic shift toward more solar power.”……https://arstechnica.com/science/2017/08/florida-power-company-exchanging-nuclear-plans-for-solar-plans-cutting-rates/