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Progress Energy's Levy County Nuclear Project Carries On Despite Setbacks

Publication Date: 
May 29, 2012
Source: 
Tampa Bay Times
Author: 
Ivan Penn

Executive Director for the Center of Energy Policy and Finance Dan Reicher is quoted by Ivan Penn of the Tampa Bay Times in the following article on the cost of energy in Florida.

Arguably, Progress Energy has a gambling problem.

For years, it has made high-stakes, high-risk bets on its Levy County nuclear power project — and steadily lost.

Unfortunately for its customers, the utility has been playing with their money.

In charge of safeguarding those dollars is the state Public Service Commission. And in 2009, and every year since, it has had a chance to pull Progress away from the gambling table.

Instead, it has rejected warnings from businessmen, scientists and academics that the utility's plan for the Levy project has little chance of success.

...

"From a strict dollars-and-cents standpoint, one's got to take note of the changing cost of various sources of electricity," said Dan Reicher, executive director of the Center for Energy Policy and Finance at Stanford University.