6 May 2010– Progress Energy Inc increased the estimated cost of its proposed 2,200 MW Levy nuclear power plant in Florida and delayed its start-up until 2021 due to a delay in licensing the reactors, uncertainty about federal and state energy policies and a recent credit rating downgrade of Progress Energy Florida.
The company estimates the project could cost up to $22.5 billion, up from its previous estimate of $17.2 billion. The first reactor is now expected to enter service in 2021 and the second, 18 months later. Progress originally estimated the first unit to enter service in 2016 but pushed that date back a year ago.
Progress also expects to receive its combined operating license from the U.S. Nuclear Regulatory Commission in late 2012. The company expected to get the license in 2011 but received requests for additional information.
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