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Duke Energy to retire Crystal River nuclear power plant

Duke Energy (NYSE: DUK) announced Feb. 5 that it will retire the 860 MW Crystal River nuclear plant in Citrus County, Fla.

The plant began operation in 1977 and has been offline since 2009, when it went into safe shutdown for a scheduled refueling and maintenance outage, during which a crack was discovered in the concrete containment wall. According to Duke, the company determined the plant was salvageable but that the cost of the repairs made the project uneconomical.

Duke is considering building a natural gas fired power plant to replace the power produced by Crystal River, and has said it will work with the roughly 600 full-time employees at the retired facility to find them new work in other Duke Energy organizations.

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