7:40 p.m. EST, January 26, 2011
Though no terms have been set, OUC could be looking at investing $500 million to $1 billion, Ksionek said. That would be one of the more significant expenditures in the history of the city-owned utility, though what it would mean for customers' electric rates is far from clear.
"This is a great opportunity for OUC economically," Ksionek said. "I like the diversification, to have 100, 150, 200 megawatts coming from up there."
One megawatt, by various estimates, can supply power to upward of 1,000 homes. OUC owns 64 megawatts' worth of power generated by existing Progress Energy Inc. and Florida Power & Light Co. nuclear plants.
The plan in South Carolina is to build a pair of 1,100-megawatt reactors at the Virgil C. Summer Nuclear Station in the center of the state, where a single reactor has already been operating for 25 years. The project is backed by investor-owned South Carolina Electric & Gas Co. and the South Carolina Public Service Authority, a state-owned utility commonly known as Santee Cooper.
OUC, an important contributor to the city of Orlando's budget, had been counting on buying a stake in a nuclear plant in Levy County for which Progress Energy Inc. is already billing customers even though the facility is yet to be licensed or built.
"This is a great opportunity for OUC economically," Ksionek said. "I like the diversification, to have 100, 150, 200 megawatts coming from up there."
One megawatt, by various estimates, can supply power to upward of 1,000 homes. OUC owns 64 megawatts' worth of power generated by existing Progress Energy Inc. and Florida Power & Light Co. nuclear plants.
The plan in South Carolina is to build a pair of 1,100-megawatt reactors at the Virgil C. Summer Nuclear Station in the center of the state, where a single reactor has already been operating for 25 years. The project is backed by investor-owned South Carolina Electric & Gas Co. and the South Carolina Public Service Authority, a state-owned utility commonly known as Santee Cooper.
OUC, an important contributor to the city of Orlando's budget, had been counting on buying a stake in a nuclear plant in Levy County for which Progress Energy Inc. is already billing customers even though the facility is yet to be licensed or built.
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