Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (3976)	1/7/2009 9:47:23 AM
From: RetiredNow	Read Replies (1) \| Respond to of 86356

:) Progress Energy Florida Contracts for Two New AP1000 Reactors; Will Retire Two Coal-Fired Units 6 January 2009 Progress Energy Florida (PEF) has contracted with Westinghouse Electric Company LLC and The Shaw Group Inc.’s Power Group for the engineering, procurement and construction of two nuclear units for a proposed nuclear power plant in Levy County, Fla. Progress will retire the two oldest coal-fired units at its Crystal River Energy Complex in Citrus County after the new, advanced-design nuclear units are built in Levy County. Doing so will reduce the company’s carbon dioxide emissions by more than 5 million tons per year—the equivalent of removing more than 830,000 vehicles from Florida’s roads or meeting nearly 60% of the company’s responsibility toward achieving Florida Governor Charlie Crist’s 2025 emission-reduction target. The contract provides equipment, engineering and construction services for two 1,105-net megawatt (MWe) Westinghouse AP1000 reactors. (Earlier post.) The next significant steps in the project are to finalize joint ownership agreements and to receive the Nuclear Regulatory Commission (NRC) schedule for review and approval of the company’s combined license application (COLA). Current plans would be for the units to be operational in the 2016 to 2018 time frame. The cost of the two new nuclear units is based on a contract price of $7.65 billion, plus forecasted inflation, owner costs and contingencies. The company estimates the total cost for the two generating units to be approximately $14 billion. This estimate includes land price, plant components, financing costs, construction, labor, regulatory fees and reactor fuel for two units. An additional $3 billion is estimated for the necessary transmission equipment and about 200 miles of transmission lines associated with the project. The final cost of the project will depend on the completion dates, which will be determined in large part by the NRC review schedule. Progress Energy Florida purchased about 5,100 acres in southern Levy County for the potential construction of two nuclear reactors and other related facilities. If approved and built, the project will be among the first nuclear plants in the country to be constructed on a new site in more than 30 years, and it will involve development of one of the single largest transmission infrastructure projects in Florida’s history. Progress is also pursuing energy efficiency, investing in renewable-energy resources and developing advanced transportation technologies, such as plug-in hybrid electric vehicles, to help reduce greenhouse gas emissions. Florida is the fourth-largest state and ranks third nationally in per-capita energy consumption. Compared to 30 years ago, the average new home today is 50% larger and uses 30% more electricity. Since the Crystal River nuclear plant came online in the mid-1970s, the company’s customer base has more than doubled. Progress Energy Florida, a subsidiary of Progress Energy, provides electricity and related services to about 1.7 million customers in Florida.