Duke Energy has deferred plans for construction of Levy nuclear power plant in Florida, due to delay by the US Nuclear Regulatory Commission (NRC) in issuing combined construction and operating licenses for new nuclear plants.
The company submitted a revised settlement agreement with the Florida Public Service Commission (FPSC) on 1 August 2013 regarding the Levy nuclear project and Crystal River 3 nuclear plant.
The company terminated the engineering, procurement and construction (EPC) agreement for the nuclear project, because of increased uncertainty in cost recovery caused by recent legislative changes in Florida.
In 2008, the company planned to build two reactors with a capacity of 1,100MW each in Levy County.
Duke Energy state president – Florida Alex Glenn said, "We continue to believe that a balanced energy portfolio, including renewable energy, energy efficiency, and state-of-the-art cleaner power plants are critical to securing Florida’s energy future, and nuclear energy should remain an option to meet Florida’s future energy needs."
Duke Energy has informed the Florida Public Service Commission (FPSC), under a revised settlement agreement, that it will resolve the costs to customers of retiring its Crystal River nuke plant and accept an $835m insurance from Nuclear Electric Insurance.