Progress Energy Florida Says Plant Expansion Expected to Save Money
Posted on: Friday, 22 September 2006, 12:01 CDT
ST. PETERSBURG, Fla., Sept. 22 /PRNewswire/ -- Progress Energy Florida (PEF) has asked state regulators to approve increasing the output of the utility's Crystal River nuclear plant, a proposal that is expected to save billions of dollars for customers.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c ) Increasing the plant's gross output from 900 megawatts (MW) to 1,080 MW will be enough to serve an additional 110,700 homes. (Based on approximately 615 homes per MW, the higher-output plant could serve about 664,200 homes.) Because nuclear energy is the most cost-effective way to generate electricity, the uprate is expected to save customers more than $2.6 billion in gross fuel costs through 2036.
"This innovative project is another way we are managing the rising costs of fossil fuels used to generate electricity," said Jeff Lyash, president and CEO of Progress Energy Florida. "Our diverse fuel mix of coal, oil, natural gas and nuclear already helps mitigate fuel-price volatility. Investing in and maximizing the efficiency of our power plants - especially our highly reliable and cost-effective nuclear unit - supports our balanced approach to meeting growing customer demand for safe, reliable and economical power."
If approved by the Florida Public Service Commission, the uprate will take place in two stages: 40 MW will be added after equipment modifications during the 2009 refueling outage, and 140 MW will be added after upgrades to the reactor during the 2011 refueling outage. The project is estimated to cost about $382 million, which includes potential transmission-system improvements and compliance with environmental regulations.
The Crystal River uprate project is not related to the company's plans to possibly add another nuclear plant in Florida. As previously announced, the company is evaluating sites for additional generation, including a potential nuclear unit, to meet Florida's growing needs for electricity. PEF's service area grows by about 30,000 to 40,000 new homes and businesses each year, and the company is planning now to ensure the infrastructure is in place to provide reliable service for future generations.
Progress Energy Florida, a subsidiary of Progress Energy , provides electricity and related services to more than 1.6 million customers in Florida. The company is headquartered in St. Petersburg, Fla., and serves a territory encompassing over 20,000 square miles including the cities of St. Petersburg and Clearwater, as well as the Central Florida area surrounding Orlando. Progress Energy is the 2006 recipient of the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence. In 2005, the company also received the prestigious J.D. Power and Associates Founder's Award for dedication, commitment and sustained improvement in customer service. For more information about Progress Energy, visit the company's Web site at http://www.progress-energy.com/.
Caution Regarding Forward-Looking Information:
This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, by their very nature, involve assumptions, risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. For example, the expected amount of savings as a result of the plant expansion is based on various assumptions concerning usage and costs of fuel. The actual savings could differ from expected savings in the event that circumstances lead to a change in those assumptions. Any forward-looking statement speaks only as of the date such statement is made, and we undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made.
Photo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-cAP Archive: http://photoarchive.ap.org/PRN Photo Desk, photodesk@prnewswire.com
Progress Energy Florida
CONTACT: Progress Energy Florida 24-hour media line, +1-866-520-6397
Web site: http://www.progress-energy.com/
Source: PRNewswire
Related Articles
- Toshiba to Participate in New Company Created By NRG Energy to Promote ABWR Nuclear Power Plants in North America
- U.S. Nuclear Power Plants Set Record Highs for Electricity Production, Efficiency in 2007
- AEHI Offers to Help Developing Countries Build Nuclear Plants for Electricity and Fresh Water
- Alternate Energy Holdings' Proposed Nuclear Power Plant Poised to Provide Power for Idaho and US West
- Nuclear Power Plant Pushed: The Chairman of the Oklahoma Corporation Commission Says Such Energy Sources Are Needed.
- Iranian, Russian Nuclear Energy Chiefs Visit Bushehr Nuclear Power Plant
- Westinghouse Lauds Progress Energy for Proactive, Forward-Looking Approach to Nuclear Fleet Expansion
- NuStart Energy Picks Enercon for New Nuclear Power Plant License Applications for a GE ESBWR and a Westinghouse AP 1000
- CMS Energy Announces Plan To Sell Palisades Nuclear Power Plant
- Lithuania Should Build New Nuclear Power Plant :President
 |
 |
User Comments (0)
RSS Feeds