Progress Energy pushes back nuclear plans until 2020

Bloomberg’s online news service reported yesterday:

Progress Energy Inc. has pushed back construction of nuclear reactors in Florida and North Carolina until after 2020, Chief Executive Officer William Johnson said.

“The timetable for those plants has slipped,” Johnson said today at a Platts nuclear-energy conference in Rockville, Maryland. “They’re now 2020 or later.”

Progress said the delay was a result of the company’s merger with Duke Energy, but I’d bet that the merger is not the only reason. Rising costs and the inability to get financing were probably also involved.
 
Something interesting from the Bloomberg piece:
 
The cost of building a two-reactor nuclear plant is about $13 billion, Johnson said.
 
Wonder what the Vegas over and under would be on that estimate….
 
In any case, no nukes from this company until after 2020. Now that’s Progress!
 
Link to Bloomberg article: http://www.bloomberg.com/news/2011-02-17/progress-energy-won-t-build-new-reactors-before-2020.html

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About Robert Singleton

By day, I work for a call center. In my spare time, I try to save my hometown (and planet) from a nearly constant onslaught of greedheads, lunatics and land developers. I live in a fictional town called Austin, Texas, where I go to way too many meetings.
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