#Florida regulators vote to end #Duke_Energy nuclear power fee RSS Feed

Florida regulators vote to end Duke Energy nuclear power fee

That is essentially the deal Duke Energy customers will get after the Florida Public Service Commission voted unanimously Wednesday to accept a settlement from Duke regarding its Levy County nuclear site.

It ends the controversial payments that customers were being forced to make to pay for a nuclear plant that was never built.

“I think this settlement, as a whole, benefits consumers, and is ultimately in the public interest,” said Florida Public Service Commissioner Ronald Brisé.

9 Investigates: Duke Energy customers paying $1.5B for defunct power plant

The settlement between Duke Energy and several consumer groups ends the nuclear cost recovery fee that customers had been paying for years.

To date, Duke customers have paid $800 million for the Levy nuclear site; money that will not be refunded.

The company still owes $150 million, however, as part of the settlement, the company will write off that portion by passing the charge to shareholders.

Read: Fla. consumer advocate asks Duke to refund $54M

“The fact that Duke is taking it upon themselves so much of that cost and writing off a great deal of the money is a tremendous benefit to the public,” said Commissioner Donald Polmann. “The settlement that has been provided here resolves years of controversy.”

Customers can expect to see a savings of about $2.50 (per 1,000 kw/hr) starting after the first of the year.

Read full article at WFTV