No decision on fate of nuclear power plant could cost Progress millions

Crystal River nuclear power plant Florida Progress Energy Florida PSC

Progress Energy Florida officials still have not made a decision on whether to fix or shut down the single-unit, 860 MW Crystal River nuclear power plant in Florida, according to The Associated Press. The company told regulators with the Florida Public Service Commission during a meeting on Jan. 7 that it expects to make a decision by the summer.

The PSC approved a settlement between Progress, the Office of Public Counsel and other intervenors in February saying that the PSC will remove Progress from the rate base beginning in 2013. Progress will also refund customers $288 million for replacement power costs and an additional $100 million in customer refunds if repairs did not begin by Dec. 31, 2012.

A report from parent company Duke Energy (NYSE: DUK) and Zapata Inc. said repair costs could reach $3.43 billion in a “worst-case scenario.” The plant has been shut down since September 2009 when a crack was found in a containment building during a scheduled refueling and maintenance outage.

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