PSC orders Duke to refund to customers $54 million for nuclear plant equipment that was never produc

[bananas]

Source: Tampa Bay Times

In the face of growing public outcry, state regulators today ordered Duke Energy Florida to credit $54 million to customers for nuclear equipment that was never produced for the now canceled Levy County nuclear project.

<snip>

But the approval of the gas plant elicited immediate criticism from environmentalists who have pressed the commission to require stronger conservation measures and to delay action and order an independent analysis of future electricity need.

"It borders on criminal behavior for utility regulators to approve a big new gas plant while Duke is proposing to kill conservation programs," said Susan Glickman, of the Southern Alliance for Clean Energy.

<snip>

Earlier, state Attorney General Pam Bondi joined a growing chorus of state leaders urging the PSC to refund to ratepayers money they paid for equipment for a nuclear plant. Neither the plant nor the equipment was ever built.

In a letter to commission Chairman Art Graham, Bondi said, "I am writing to express my deep concerns over the Public Service Commission . . . staff's recent recommendation to side with Duke Energy to withhold $54 million in credits rightfully due to its customers."

<snip>

The two nuclear projects' costs to Duke ratepayers reached $3.2 billion, though customers will never receive a kilowatt of power from the plants for that money.

<snip>

An eight-year-old state law enabled Duke to collect the money in advance for the Levy project. The law, the Nuclear Cost Recovery Clause, or so-called "nuclear advance fee," allows Florida utilities to collect money from their customers for nuclear projects before they begin producing power.

<snip>

Read more: http://www.tampabay.com/news/business/energy/bondi-urges-psc-to-order-duke-to-refund-54-million-for-nuclear-equipment/2200407

[marble falls]

1. How about the interest on that $54million? Who gets that?

[rhett o rick]

2. k&r. Thanks for posting. nm

[Baitball Blogger]

3. This is wonderful.

I know the Orlando Sentinel's reporters were covering this one as well.

[RoccoR5955]

4. Why aren't the owners of the company

in jail, where they belong?
And guess what will pay for those credits that they will give to customers? As it always has been, higher electric rates. Typically, a few years after, the folks in charge of the company who commits this crime go boo hooing to the PSC and ask for higher rates, which they eventually get. This means that the customers end up paying for their own credits, and the leaders/owners of Duke get away with crime. This is the way it is in the United States any more.

[shraby]

5. Isn't this the amount that the ratepayers should be getting back plus interest?

"The two nuclear projects' costs to Duke ratepayers reached $3.2 billion, though customers will never receive a kilowatt of power from the plants for that money"

$3.2 billion is a whale of a lot more than $54 million. That's one huge bunch of change going into Duke's pockets. They should be penalized every penny they stole, plus jail time.

[freshwest]

6. You beat me to it. It should bein the billions, not millions. FL could have used the money on solar.

Customers will get a rebate, but it'll be a paltry sum from those who have abused the letter of the law for their own profit.

Oh, wait. Florida is still Governor Voldemort's little fiefdom. Never mind.

[Art_from_Ark]

7. So Duke is back in the news

http://www.nytimes.com/2002/09/18/us/california-power-failures-linked-to-energy-companies.html

[valerief]

8. Sun and democracy are wasted on Florida. nt