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Press Release

05/02/2011

Progress Energy filing would slightly reduce customer nuclear cost-recovery charge

ST. PETERSBURG, Fla. (May 2, 2011) – Progress Energy Florida today submitted its annual nuclear cost-recovery clause (NCRC) filing to the Florida Public Service Commission (PSC), which, if approved, would result in a slight decrease to monthly nuclear costs next year.

For 2012, Progress Energy Florida is seeking to recover $157.6 million in nuclear costs, which includes investments of $135.3 million in the proposed Levy County plant project and $22.2 million to increase production capability at the Crystal River Nuclear Plant.

If the PSC approves the company’s 2012 nuclear cost estimates as filed, the company estimates a residential customer would pay $5.20 a month on a 1,000 kilowatt-hour (kWh) bill for nuclear cost recovery ($4.47 for Levy, and 73 cents for the Crystal River capacity increase, called an uprate).

Those nuclear costs are 33 cents, or 6 percent, lower than the $5.53 per month customers pay today on a 1,000-kWh bill ($4.99 for Levy, and 54 cents for the Crystal River uprate). The average total monthly bill for 2012 will be determined after other clauses, such as fuel-cost recovery, are set by the PSC, likely in early November. Currently, residential customers pay $119.34 for 1,000 kWh.

“Advanced nuclear plants are an important part of our region’s long-term energy mix,” said Vincent Dolan, president and chief executive officer of Progress Energy Florida. “Continuing our commitment to these important nuclear projects will help ensure that nuclear power remains a viable option to provide safe, clean and reliable energy for the 1.6 million households and businesses that depend on us.”

The PSC will hold a hearing on this filing beginning Aug. 10. The PSC is expected to decide the issue Oct. 31. If approved, the new NCRC would take effect on customers’ bills beginning in January 2012.

The filing reflects the actual costs the company has incurred for the proposed Levy County nuclear plant and the Crystal River 3 uprate through February 2011, plus projected costs for both projects for the rest of 2011 and 2012.

Progress Energy Florida, a subsidiary of Progress Energy (NYSE: PGN), provides electricity and related services to more than 1.6 million customers in Florida. The company is headquartered in St. Petersburg, Fla., and serves a territory encompassing more than 20,000 square miles including the cities of St. Petersburg and Clearwater, as well as the Central Florida area surrounding Orlando. Progress Energy Florida is pursuing a balanced approach to meeting the future energy needs of the region. That balance includes increased energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. For more information about Progress Energy, visit www.progress-energy.com.


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Media contact: Progress Energy Florida 24-hour media line, 866.520.6397
Follow Progress Energy on Twitter: @progressenergy

 

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