Duke energy cancels $24 billion project with Westinghouse after years without progress

Share with others:

Print Email Read Later

Duke Energy announced today it will cancel its $24 billion engineering, procurement and construction project with Westinghouse Electric Co. and two other firms to build two AP1000 plants in Levy County, Fla.

The project has been in a holding pattern for years.

Westinghouse signed a contract with Progress Energy, which Duke later bought, in 2009 to put two new nuclear reactors into operation by 2016.

By the beginning of 2012, delays in federal licensing and the utility's reevaluating of the economics of building new nuclear plants had the project at a standstill.

Today, as part of a settlement with Florida consumer advocates, Duke said it would terminate the contract.

Its statement left open the possibility of reconsidering the project later.

mobilehome - breaking - businessnews

Anya Litvak: alitvak@post-gazette.com or 412-263-1455.


Create a free PG account.
Already have an account?