Duke Energy Offers $6B For Solar, Batteries And EVs
By Jeff St. John for GTM - Florida is set to get a lot more solar power and grid batteries -- in exchange for losing a future nuclear power plant. On Tuesday, Duke Energy Florida filed a revised settlement that lays out a four-year, nearly $6 billion investment into 700 megawatts of solar PV, 50 megawatts of energy storage, 500 electric-vehicle chargers, and smart meters and grid modernization across the state. In exchange, Duke will be allowed to shut down its Levy Nuclear Project -- one of many planned nuclear power plant projects being canceled in the wake of the Westinghouse bankruptcy and broader industry disruption. And, in a turnaround from last week’s request for an 8.3 percent rate hike, the new plan would keep rates in line with inflation over the next four years. Duke Energy Florida, which owns about 8,800 megawatts of generation capacity and serves approximately 1.8 million customers, will instead absorb more than $150 million in closing costs, and pass the rest on to customers to the tune of $2.50 per megawatt-hour. It will also reduce customer costs by $2.53 per megawatt-hour by spreading the costs for under-recovered fuel over two years rather than one.