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Progress Energy Seeks 20-year License Renewal for Crystal River Nuclear Plant

Posted on: Friday, 19 December 2008, 15:43 CST

CRYSTAL RIVER, Fla., Dec. 19 /PRNewswire-FirstCall/ -- Progress Energy (NYSE: PGN) has submitted a license renewal application to the U.S. Nuclear Regulatory Commission (NRC), requesting 20 additional years of operation for its Crystal River Nuclear Plant. Electricity generated by the Crystal River Plant is essential for Progress Energy to meet the needs of homes and businesses in the company's 35 county Florida territory in an environmentally sound manner.

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"Obtaining license renewal at our existing nuclear plants allows Progress Energy to ensure that safe and reliable nuclear energy continues to be a part of the energy mix we use to meet the needs of the customers that depend on us twenty-four hours a day," said Bill Johnson, chairman, president and CEO. "And, as we work to address concerns about global climate change, emission-free nuclear energy is the best large-scale means for making a positive difference."

The Crystal River Nuclear Plant is a pressurized-water reactor capable of producing 900 megawatts of electricity. The plant employs about 500 workers and generates nearly $28 million in annual tax revenue for Citrus County. In 2007, the plant embarked on an uprate project to increase the plant's output from 900 megawatts (MW) to 1,080 MW over the next 3 years. The additional megawatts will be enough to serve approximately 664,000 homes.

"The Crystal River Nuclear Plant has operated safely, reliably, and cost-effectively for nearly 33 years and supports our balanced approach to meeting customer demand for safe, dependable and economical power," said Jeff Lyash, president and CEO of Progress Energy Florida. "This operating extension is another way we are managing the rising costs of fossil fuels used to generate electricity."

Progress Energy has already sought and received renewals at its other three nuclear plants. In April 2004, the NRC approved the renewal of the operating license for the company's H.B. Robinson Nuclear Plant near Hartsville, S.C., through July 2030. In June 2006, the NRC approved the renewal of the operating license for the Brunswick Nuclear Plant near Southport, N.C., through 2034 and 2036 for that plant's two nuclear units.

The NRC, the federal agency responsible for overseeing nuclear plant operations and safety, granted the Crystal River Nuclear Plant a 40-year operating license in 1976. The license term was originally established by the NRC for U.S. commercial nuclear power plants based on typical amortization time periods used by utilities for large capital investments.

The license-renewal process involves a thorough assessment of the plant's operating equipment, maintenance programs, and equipment testing and replacement programs. An environmental review will also be conducted to assess the potential impacts of continued operations. The NRC's review process is expected to take 25 to 33 months.

Public involvement is integral to the license-renewal process. Several open meetings will be held throughout the process. Meeting information is made available to the public on the NRC Web site: www.nrc.gov.

Nuclear power is an important part of Progress Energy's balanced plan for meeting the region's current and future energy needs. Using nuclear power decreases our reliance on fossil fuels and helps stabilize rates. Today, Progress Energy's Crystal River 3 nuclear plant saves customers $600 million per year in fuel costs - or $15 a month on their electric bill (based on 1,000 kWh).

Nuclear power is a clean energy that produces no greenhouse gas emissions associated with global climate change, and it has the lowest fuel cost of any large-scale electricity option available today. In addition to nuclear plants, Progress Energy operates coal-, natural gas- and oil-fueled plants and hydroelectric generation.

Progress Energy Florida, a subsidiary of Progress Energy (NYSE: PGN), provides electricity and related services to 1.7 million customers in Florida. The company is headquartered in St. Petersburg, Fla., and serves a territory encompassing more than 20,000 square miles including the cities of St. Petersburg and Clearwater, as well as the Central Florida area surrounding Orlando. Progress Energy Florida is pursuing a balanced strategy for a secure energy future. That balance includes aggressive energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. For more information about Progress Energy, visit the company's Web site at www.progress-energy.com.

SOURCE Progress Energy

Source: PR Newswire

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