Edsels of energy? Duke Energy may find new AP1000 nuclear plants are already outdated
In October and then again in December of 2016, Duke Energy won long-pursued federal operating licenses to build and run what was meant to be cutting edge nuclear power plants at sites in Florida and South Carolina.
Duke has no current plans to proceed on either project.
The dilemma? Now that Duke has finally secured these hard-to-get licenses, years have passed since these projects were first proposed. More than $1 billion (much of it still to be charged to customers via higher electric rates) have been spent on early site preparations. And what was once the modern design of the chosen nuclear plants, known as the AP1000, at both sites now looks outmoded by newer plans for smaller, less costly and quicker-to-build nuclear plants.
Like many industries where today's technology is on tomorrow's junk heap, Duke may now possess federal operating licenses for the nuclear plant equivalent of the Edsel.
Extremely expensive Edsels.
Read more: http://www.tampabay.com/news/business/energy/edsels-of-energy-duke-energy-may-find-new-ap1000-nuclear-plants-are/2313544