Shifting Risks to Customers (CWIP)

Construction Work in Progress laws (CWIP, aka Advanced Cost Recovery, aka Annual Rate Hike Bills) allow utilities to charge customers in advance for the cost of building expensive new plants that aren’t even needed — even if those plants never go online.

How Duke fleeced Florida customers for $1.5 billion — WTSP News 10 (Tampa)

August 2, 2013

On Thursday, Duke Energy Florida (formerly Progress Energy) announced that the company would pull the plug on its future Levy Co. nuclear plant. And the money the company has been collecting from customers for years — and will continue to collect until 2018 — will go toward Duke Energy’s expenses and profits.

Nuclear renaissance was just a fairy tale — The Guardian

July 11, 2013

The promise of cheap, low-carbon power – with 31 new reactors in the US – was based on rhetoric and obedience. Anyone who doubts that should read the new status report on the industry. It is all in ruins now.

Consumer Alliance Warns of a Doubling of Electricity Rates under Duke Energy’s Business Plan – News Release from Consumers Against Rate Hikes

January 7, 2013

Economists say a proposed “annual rate hike bill” to fund new nuclear plants would be aninterest-free loan to Duke from ratepayers – without saving any money.
See the study

Credibility is hard to come by with Duke Energy – Tampa Bay Times column

September 13, 2012

This is not a critique of the proposed nuclear power plant in Levy County. Let the engineers, watchdogs and investors debate the details of that plan. This is about something simpler. In some ways, something far more important. This is about credibility.

Good News: Consumer Coalition Thanks NC Legislature for No Action on Annual Rate Hikes Bill

July 9, 2012

Consumers Against Rate Hikes claims victory and thanks legislators as the 2012 legislative session closes without an Annual Rate Hikes Bill that would raise rates for electricity customers every year to build expensive, unnecessary nuclear plants.

NC WARN Says Changes in Duke-Progress Merger Harm the Public – News Release from NC WARN

June 18, 2012

Groups from 5 merger states urge NC hearings; WARN calls for sunshine on 15 secret deals and for attorney general to investigate backroom pressure over SC nuclear project.
See NC WARN’s motion
See NC WARN’s letter to Attorney General Roy Cooper

Duke-Progress merger could be scotched by backroom deal on new nuclear plant and billions in cost of broken plant – News Release from NC WARN

June 1, 2012

Watchdog group will urge North Carolina regulators to reject any SC effort to hitch merger approval to Duke’s investment in problematic nuclear project.

Consumer Coalition, National Expert Warn North Carolina Not to Repeat Nuclear Financing Mistake that’s Devastating Southeast Ratepayers

May 14, 2012

Big News! White House Hedging on Nuclear Loans!

April 4, 2012

This is big. The $8.3 Billion taxpayer loan for construction of two new reactors at the Vogtle site in Georgia, the centerpiece of the Obama Administration’s support for the “nuclear renaissance,” may be blocked–by the Obama Administration.

Terrific news on nuclear revival and climate – An update from NC WARN

January 26, 2012

Progress Energy plans to cancel the main development and construction contract for its proposed nuclear plant in Levy County, but its customers will have to keep paying in advance anyway.

Shifting Risks to Customers (CWIP)

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