Nuclear

Progress Energy applies to build two nuclear units

11 March 2008 — Progress Energy Florida, a unit of Progress Energy, filed with the Florida Public Service Commission to build two nuclear units. The site, a 3,100 acre plot in Levy County, was selected by Progress Energy in 2006.

If approved and built, the project would be among one of the the first nuclear plants in the country to be constructed on a greenfield site in more than 30 years.

The company estimates the total cost of the project to be approximately $14 billion for the two units and an additional $3 billion for the necessary transmission facilities. This estimate includes land price, plant components, financing costs, construction, labor, regulatory fees and reactor fuel for two units. It also includes the cost of the approximately 200 miles of transmission lines and associated facilities necessary to interconnect and integrate the plants on to the company’s existing transmission system.

The company has selected the Westinghouse AP-1000 design for the two proposed nuclear units. The AP-1000 is a standardized, advanced passive-pressurized water reactor. The two reactors are scheduled to enter service in 2016 and 2017, respectively.