Plan for New Nuclear Plant Dropped But Public Gets Fleeced $1.5 Billion

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Duke Energy shelved its planned nuclear power plant in Levy County, Florida, but customers have already paid $1.5 billion toward the project and will continue paying through 2017 and beyond. Southern Alliance for Clean Energy notes that cost estimates for the plant skyrocketed over 400 percent from 2007 projections while timelines were repeatedly delayed. The article highlights how Duke profited from the project regardless of whether it was built, while financial risks were shifted to ratepayers.