Nuclear, Reactors, Retrofits & Upgrades

Monticello nuclear uprate costs double

Xcel Energy (NYSE: XEL) has revealed that the costs of its uprate to the Monticello nuclear power plant are double the projected amount, according to a report from the Associated Press.

The uprate had been expected to cost $320 million. After first arguing to the Public Utilities Commission (PUC) that the true cost of the uprate was a trade secret, Xcel revealed in a PUC filing Wednesday that the price tag on the project has ballooned to $640 million.

The uprate will increase output by 12 percent and extend the life of the plant by two decades. Xcel has requested a rate hike on Minnesota power customers in order to pay for the cost overrun. The commission is expected to make a decision on the request sometime this fall, the AP reports.

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