Monday, August 05, 2013

Duke Energy Gets More Money

The Florida Public Service Commission agreed to allow Duke Energy to continue to charge customers for the Levy County nuclear power plant. The kicker is Duke Energy has announced they will never complete the power plant. Duke Energy customers will be paying an extra $108 million for an imaginary power plant.

The decision by the PSC will add 89 cents a month for 1,000 kilowatts of energy to current bills for customers. The commission concluded they had no other option based on a state law that allows utilities to charge customers in advance for nuclear power plants, regardless of whether the are built or not, and a settlement agreement relating to the broken Crystal River plant. Together the cost to customers for both failed projects will amount to about $3.2 billion.

Duke Energy will be legally allowed to keep this revenue. To make matters worse: the state still owesDuke Energy $1.5 billion for this power plant that will never exist. The reason Duke Energy can get this money is former Gov. Charlie Crist and the Florida legislature made this sweetheart deal legal.

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