Image courtesy Progress Energy Florida

The cost estimate for Progress Energy's proposed new nuclear plant in Levy Co., Fla., has escalated to approximately $20 billion.

Suzanne Grant, company spokesperson, told ENR by email: “Progress Energy Florida has not stated any intention to cancel the engineering, procurement and construction contract for the Levy County nuclear project.” Instead, she said the company is continuing to pursue a combined operating license [COL] from the Nuclear Regulatory Commission, which it expects to receive in 2013.

A yet-to-be-approved agreement with the state of Florida over disputed repairs at the utility’s Crystal River nuclear plant allows Progress to cancel its contract for the Levy County project. Grant said the company will reassess “all aspects” of the $20-billion nuclear project after obtaining the COL. Currently, she says, the project remains an economically viable option.

“We strongly believe state-of-the-art nuclear power is important to our state’s energy future,” she said.