Duke Energy May Have to Issue Refunds for Failed Nuclear Plant Fees

Duke Energy may find itself refunding billions of dollars to customers that it collected to fund its failed foray into nuclear power.

State Reps. Chris Latvala, R-Clearwater, and Amanda Muprhy, D-New Port Richey, filed bills for the 2015 legislative session that would force the company to stop collecting nuclear advanced fees while paying back some of the money the company’s 1.7 million customers fronted for the doomed projects.

“Floridians are tired of being taxed for projects that will never come to fruition,” Murphy was quoted by the Tampa Bay Times as saying.

Duke had planned to build two reactors in Levy County, but canceled the project after natural gas prices dropped, the paper reported. Despite this, the energy company spent an estimated $1.5 billion on planning and development for the project without ever delivering a single kilowatt hour of power. It also pocketed an estimated $150 million, the paper reported. Some of the money was also spent on the now-closed Crystal River nuclear plant.

According to Florida House of Representative records, the bills are up for consideration in the 2015 session, which begins March 3. It is unclear how soon refunds would be issued if the measure is approved or how much Duke would have to pay back.

Check out the Times’ full story here.

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See Also:

• Duke Energy Has to Issue $1.7 Million in Credits
• Duke Energy Says it Will Issue Credits
• Duke Energy is Putting the ‘Squeeze’ on Customers Senator Says
• Duke Energy Has to Answer for Rate Charges

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