How much will the project cost?

With any project that takes years to analyze, negotiate and construct, and that is subject to national and international market forces, estimates are going to vary over time, often significantly. We are still negotiating with Westinghouse on price, but have a much better handle on the overall costs associated with this project. The comprehensive cost associated with the proposed Levy County plants is currently estimated to be approximately $14 billion for the two units, and an additional $3 billion for the necessary transmission facilities.

Will my electric bills go up or down as a result?

Customer costs are going to increase, as we add new generation and environmental retrofits, new efficiency programs and new renewable energy sources. Our objective is to minimize price impacts on customers.

In terms of personal impact to residential customers, the estimated average annual customer cost increase is expected to be between 3 – 4 percent from 2009 to 2018.  But, when the plants begin commercial operation in 2017-18, and you begin to factor in annual fuel savings – a direct cost savings benefit to customers -  as high as $1 billion, the long-term benefits of the nuclear decision are clear.  Nuclear energy is also carbon-free, providing meaningful reductions in greenhouse gas emissions.  It protects our customers against future carbon legislation. Governor Crist outlined aggressive greenhouse gas targets last year, and there is federal legislation currently being discussed.

If we move forward with nuclear, our customers will ensure price stability, a reliable power supply, and will avoid production of greenhouse gas emissions that contribute to global climate change.

Would you be considering this project if the 2006 state energy legislation had not been passed?

The Renewable Technology and Energy Efficiency Act of 2006 is an innovative, landmark piece of legislation that comprehensively addresses critical energy issues facing our state. Without this legislation, we would not be considering building new nuclear generation in Florida. 

This legislation allows utilities to recover prudent preconstruction and interest costs during the construction period, which significantly lowers the long-term financing costs and protects customers from potential cost overruns. The overall cost of the plant decreases, minimizing the price customers pay over its operating lifetime. The law saves customers money and provides annual oversight of all expenses associated with nuclear construction to ensure transparency.