Progress Energy

Energy
9:00 am
Tue January 8, 2013

Progress Energy's $100-Million Dilemma: Retire Or Repair Crystal River Nuclear Plant

PROBLEM PLANT: The Crystal River nuclear plant in Citrus County has been idle since an accident in 2009. Progress Energy may owe customers $100 million if it doesn't come back on line.
Credit Flaglerlive.com

Still undecided about whether to repair or permanently shut down an idled nuclear-power plant, Progress Energy Florida faces the likelihood of eventually refunding up to $100 million to customers.

The refunds stem from a wide-ranging settlement agreement that Progress reached in early 2012 with representatives of consumers and business groups. Under that settlement, the utility would not have been subject to refunding money if it started repairs on the Crystal River nuclear plant by Dec. 31.

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