Crystal River nuclear power plant decommissioning plan revealed

Crystal River nuclear

Duke Energy (NYSE: DUK) said it will begin decommissioning the Crystal River nuclear power plant in Florida in 2014, according to a plan filed with the U.S. Nuclear Regulatory Commission (NRC) and the Florida Public Service Commission.

Decommissioning is estimated to cost $1.18 billion in 2013 dollars. Duke said its existing decommissioning trust fund coupled with the fund’s future growth and the money from the plant’s nine other owners will be enough to permanently shut it down. Duke announced in February that it would retire Crystal River instead of making costly repairs to the reactor's containment building.

Duke also said it picked the SAFSTOR option, which will place the plant in a stable condition for 60 years until decommissioning work is completed in 2074. The plant’s used nuclear fuel will remain in the existing on-site fuel pool until a new, on-site dry cask storage facility is built.

For more information on the decommissioning efforts, click here.

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