Press Mention Capitol News Service August 4, 2013
SACE Quoted
Nuclear Costs Continue to Rise
In this mention
Florida regulators approved rate increases for Duke Energy and FPL customers to cover costs of nuclear plants under construction or abandoned. The Southern Alliance for Clean Energy criticized the decision, arguing that nuclear costs have risen dramatically while renewable energy costs have declined, making new nuclear plants economically unviable.
The cost of new nuclear power plants has gone through the roof while new renewable's cost have come down
Susan Glickman
Original clipping
PDF didn't open? Open it in a new tab →
Full transcript
Nuclear Costs Continue to Rise
August 5th, 2013 by Mike Vasilinda
Even though Duke Energy announced it will no longer ask customers to pay for a nuclear plant that won't be built…those customers will begin paying almost a dollar a month more. The money is to cover costs already incurred. Customers of FPL will also continue paying for a plant that is at least a decade or more from reality.
With a unanimous vote, state regulators approved adding 89 cents a month to Duke Energy customer bills. The charge will last seven years to cover the costs of mistakes made at the companies crippled Crystal River 3 nuclear plant. The levy comes on top of other costs for the Levy Nuclear plant which the company said it won't build. "The 89 cents is added to the Crystal River charge of 2 dollars and 17 cents, it'll be an addition to the 3 dollars and 45 cents that customers are paying for Levy," says Sterling Ivey, Duke energy Spokesperson.
Duke says that it will continue to pursue, at its own expense, a license for a nuclear plant that it acknowledges may never be built. "The economics of the Levy sight, right now just don't work," says Sterling Ivey.
Despite Duke's pull back, FPL says it is moving forward with plans to license two nuclear reactors. Regulators approved spending 45 million next year or about 48 cents a month to the average customer. "And it continues to be… to show that it's cost effective investment for customers," says Erik Hofmeyer, FPL Spokesperson.
What we now have as one utility using shareholder money to pay for the cost of the nuclear licenses and another utility getting rate payers to pick up that tab. The Southern Alliance for Clean Energy says regulators are ignoring the economic reality. "The cost of new nuclear power plants has gone through the roof while new renewable's cost have come down," says Susan Glickman, The Southern Alliance for Clean Energy.
If a plant's every built, it's at least a decade away.