Progress Energy recently announced their intentions to move forward on the construction of two new nuclear reactors in the state of Florida.  Once on-line these twin units will produce over 2,200 megawatts of electricity, about twice the amount needed to power all of Western North Carolina.  The Florida Public Service Commission unanimously approved the license for the project and the Nuclear Regulatory Commission (NRC) is currently reviewing the plan.  If the NRC approves the proposed construction plan, both units are scheduled to be completed and producing electricity in the 2016 to 2018 time frame.

In addition to the obvious boost in base load electrical generation supply, this facility will retire two of Florida’s oldest coal-fired generating units.  Once this coal-fired generation is no longer in service, five million tons of carbon dioxide emissions will be eliminated annually.  This is the equivalent of removing 830,000 vehicles from the highways and is at least 60% of the total emissions reduction requirements that Progress Energy has to meet by 2025. 

Another positive side to nuclear facilities is the creation of high paying jobs.  It is estimated that as many as 3,000 workers will be needed during construction.  Once the plant is in operation it will employ at least 800 full-time employees and create as many as 1,200 indirect jobs. 

There are certainly some concerns that follow such a large project.  The cost to construct both units is projected to be a staggering $14 billion depending on the final approval date of the licensing procedure.  It is an enormous investment by Progress Energy, its customers, and its stock holders that will take many, many years to pay off.  This money will be spent before the first kilowatt of electricity is ever produced. 

The ongoing issue of the nuclear waste is a problem.  Yucca Mountain in Nevada is still unsettled in the court system after nearly 20 years and millions of taxpayer dollars for the proposed development of a permanent storage facility. 

There is and will continue to be controversy as to whether this is the best way to invest in the electrical future for Florida.  Some opponents of this facility would suggest the money would have been better spent on renewable technologies.  However, we must look at the situation with a realistic view.  Progress Energy’s load in Florida is growing at a rapid pace.   Every utility is required by law to plan and provide an adequate supply of electricity to their native base load customers.

There is no argument that new base load generation is needed as determined by the Florida Public Service Commission.  It is neither possible nor practical to generate 2,200 megawatts of base load reliable electricity from solar or wind generation. 

Nuclear power is not the perfect solution to our energy needs, but for the foreseeable future, it is the best solution from an overall perspective.  It reduces the amount of CO2 we release into the atmosphere, it reduces our dependency on foreign oil and gas supplies, and it provides a cleaner, reliable, long-term solution to our growing electrical demand. 

Thank You,

Jeff Loven
Email: jeff.loven@frenchbroademc.com


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