Progress Energy taps Westinghouse, Shaw for nuclear plant work

LEVY COUNTY, FLORIDA - Progress Energy Florida has entered into an engineering, procurement and construction contract for two nuclear units to be built in Levy County.

Under terms of the contract, Westinghouse Electric Co. LLC and Stone & Webster Inc., a subsidiary of The Shaw Group Inc., will provide design, engineering, procurement, and construction services for the two nuclear electric-generating units, Progress Energy said in a filing with the Securities and Exchange Commission.

The contract price for the two new nuclear units is about $7.65 billion, the SEC filing said. The total price estimate that Progress Energy filed with the Florida Public Service Commission, including costs such as inflation, site preparation, financing and associated transmission facilities, is about $14 billion.

If regulatory approvals stay on schedule, current plans would be for the units to be substantially complete in the 2016 to 2018 time frame, the filing said.

Progress Energy Florida said in a news release that most of the project costs will be invested by the company and its shareholders and will not be recovered from customers through rates until the plant goes into service. However, starting this month, customers will begin paying for a portion of the costs of the project as approved by the PSC, the release said.

Progress Energy Florida also said in the SEC filing that it expects to have substantial joint ownership in the project and will make an announcement on additional owners when those negotiations are completed.

Related News

chinese nuclear power plant

Is nuclear power really in decline?

LONDON - By Kirill Komarov, Chairman, World Nuclear Association.

As Europe and the wider world begins to wake up to the need to cut emissions, Dr Kirill Komarov argues that tackling climate change will see the use of nuclear energy grow in the coming years, not as a competitor to renewables but as a competitor to coal.

The nuclear industry keeps making headlines and spurring debates on energy policy. With each new build project, the detractors of nuclear power crowd the bandwagon to portray renewables as an easy and cheap alternative to ‘increasingly costly’ nuclear: if solar and wind are virtually free…

READ MORE
lightning strike

Almost 500-mile-long lightning bolt crossed three US states

READ MORE

hong kong harbour

Hong Kong to expect electricity bills to rise 1 or 2 per cent

READ MORE

pickering ngs

Time running out for Ontario to formally request Pickering nuclear power station extension

READ MORE

new jersey powerlines

New Jersey, New York suspending utility shut-offs amid coronavirus pandemic

READ MORE