Caption: Monticello nuclear power plant
The Monticello nuclear power plant in Minnesota is operating at a higher power output.
Xcel Energy said in the St. Cloud Times that the unit is now operating at 671 MW, up from between 640 MW and 656 MW back in December. The reactor started operations in 1998 at 600-MW of capacity.
The two-year upgrade project faced cost overruns that increased the price tag from an initial $320 million to $748 million, including inflation and financing-related allowances, the article said. The Minnesota Public Utilities Commission investigated the issues and said Xcel Energy (NYSE: XEL)’s careless management led to the utility having to write off $125 million, nearly half its profits in the first quarter.
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