Duke Energy reached a settlement with the state of Florida that allows the Charlotte, N.C.-based utility to keep $1 billion in advance fees collected from ratepayers that would have financed a cancelled $24.7-billion nuclear plant project, while clearing the way for additional funding of a planned 1800-megawatt natural gas plant.
The utility cited recent changes in the state’s nuclear advance cost recovery law for its Aug. 1 decision to cancel construction plans for the controversial project in Levy County.