Levy County Nuclear Power Plant

The Levy County Nuclear Power Plant is a proposed nuclear power plant in Levy County, Florida. Progress Energy Florida originally estimated that the reactors would cost $5 billion and would commence operation in 2016. But it has become clear that the new Levy County reactors will not start operating for at least another decade, if ever.Since Progress filed its application for the new plant in 2008 demand for electricity has been growing very slowly, and natural gas prices are now very low. The utility now estimates that the reactors will cost between $17 billion and $22 billion, not counting financing charges and cost overruns. According to economist Mark Cooper, opposition to the project has mounted, threatening a rerun of the 1970s and 1980s, when the majority of nuclear construction plans were canceled or abandoned.On August 1, 2013, Duke Energy terminated the engineering, procurement and construction (EPC) agreement for the Levy nuclear project, as part of a settlement with Florida consumer advocates.HistoryThe Levy County Nuclear Power Plant is the umbrella term for a proposed nuclear power plant in Levy County, Florida. Proposed in 2006, Progress Energy Florida (PEF) announced the selection of 5100acre in southern Levy County for the potential construction of nuclear reactors. The site's proximity to the company's existing Crystal River 3 Nuclear Power Plant was expected to provide opportunities for efficiencies in shared support functions at both facilities. However, Progress Energy (at this point, a subsidiary of Duke Energy) announced the decommissioning of the Crystal River reactor in February 2013 after cracks formed in its containment dome, estimated at $1.5 billion to repair. The company made no reference to constructing any new nuclear facilities in the region, only stating that it is "evaluating a number of potential sites for new plant capacity that may be needed in the future to meet Florida customer needs."