Progress Energy taps Westinghouse, Shaw for nuclear plant work
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.
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TORONTO - The Canadian Gas Association says building renewable electricity capacity to replace just half of Canada's current fossil fuel-generated energy could increase national costs by as much as $1.4 trillion over the next 30 years.
In a report, it contends that growing electricity's contribution to Canada's energy mix from its current 19 per cent to about 60 per cent will require an expansion from 141 gigawatts today to between 278 and 422 GW of renewable wind, solar and storage capacity by 2050.
It says that will increase national energy costs by between $580 billion and $1.4 trillion between 2020…
