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Duke sues Westinghouse over canceled nuclear power plant contract

Duke Energy sues Westinghouse AP1000 Levy County nuclear power plant Florida

Duke Energy (NYSE: DUK) sued Westinghouse over a canceled nuclear power project in Florida.

According to the Charlotte Observer, Duke Energy said it paid Westinghouse $54.1 million for work that was never performed before the utility suspended plans for the Levy County nuclear plant. Westinghouse was to provide two AP1000 nuclear reactors for the project. Westinghouse claims that Duke owes the company nearly $482 million in contract termination costs, the article said. Duke said it has paid $65 million and owes nothing more.

Duke announced in August 2013 that it canceled its engineering, procurement and construction agreement for the plant and put it on hold indefinitely due to licensing delays. It said in filings with the Florida Public Service Commission that it would write off $65 million related to investments in the project. Both companies agreed that either side could end the agreement is the NRC didn’t grant a construction and operating license by Jan. 1 of this year, the article said. Duke canceled the contract in late January, and no license was granted.

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