How much will Progress Energy's nukes cost? Sorry, that's redacted

Wondering what Progress Energy's nuclear project will cost you? Sorry. That's not public information.

Progress Energy has blacked out its cost estimates for its Levy County nuclear project in recent filings with the Florida Public Service Commission. The utility had offered a public estimate in March of $17-billion, saying customers could see an increase of about $7.50 per 1,000 kilowatt hours starting as early as January. Now, the utility has asked the commission to black out its latest estimates on how the project could impact monthly bills. So why redact the cost estimates now?

"We have said all along that they are subject to change," said utility spokesman C.J. Drake. (This is true. This story notes their frequent use of the word "non-binding" in their cost estimates.)

Does that mean the cost has gone up or down?

Drake answered only, "Progress Energy Florida is negotiating with several parties for the design and development of new nuclear reactors. To ensure the best price for our customers, we have asked and the commission has agreed, to keep this information confidential for the time being. We will work with the commission to release the figures at the appropriate time."

The graphic here shows how the nuclear project could impact your bill, based on estimates the utility made to the commission earlier this year. This file is easier to read: Download nuclearbill.pdf.

The commission plans to hold a hearing on the nuclear cost recovery in September. It's unclear when the utility has to make the costs public.

A state law passed in 2006 allows utilities to charge customers for the cost of a nuclear project years before the plant is completed and producing power. The idea behind it is that it helps lower interest-related costs, and lessens the risk for the utilities. Reducing the risk can help lower borrowing costs. That means less money will be passed on to consumers in the end, the utilities argue.

Consumer groups see it differently. They think customers are getting stuck with a open-ended bill with no guarantees that the risky and expensive projects will ever be completed.

Check back for more information on this story Thursday.

-Asjylyn Loder, Times staff writer

Comments

[nonukeflorida]

When you consider that the price of reactors has already risen more than 200% since 2000, the skies the limit when it comes to the cost of these nukes! Progress Energy doesn't care, because they are not paying a penny, nor are they responsible for any of the risks.

Wallstreet won't touch nukes with a ten foot pole, so they've come to us to bleed us dry of whatever money we may have left, taking food out of our chldren's mouths, and driving up the national debt another few billion. What the heck, might as well... everyone else is. They know this criminal Congress will write pretty much any corporation a blank check to drive up profits!

Energy demand is down in Florida, and steadily falling due to the economy, and that on top of the fact that there was already an excess of idle energy that is not even close to being tapped.

You are being ripped off people! We don't need anymore Nukes in Florida, especially not on environmentally sensitive watershed wetlands, and across the street from a mining company that applied to blast with explosives daily for the next 100 years!

The toxic nature of 2 nuclear reactors sitting on watershed wetlands in Florida lends risk to contamination of our entire aquifer!

Is this a risk you're willing to take for energy that we don't need? There are other safer and truly renewable alternatives like wind and solar that are viable in Florida, cost MUCH less and carry none of the risk involved with nuclear power.