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Released June 24, 2013 | SUGAR LAND
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Researched by Industrial Information Resources (Sugar Land, Texas)--Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) acquired Progress Energy Incorporated (Raleigh, North Carolina) in 2011 and has since set into motion a plan to decommission the 838-megawatt (MW) Unit 3 of the Crystal River Nuclear Power Plant in Citrus County, Florida. The estimated cost for removing and replacing the damaged concrete containment structure is between $900 million and $1.3 billion. Duke informed the Nuclear Regulatory Commission (NRC) that it was going to carry out the repair and bring the unit back online in 2014. The decision was reversed in February 2013, and Duke is now setting in motion the decommissioning process.
Officially, Duke has until February 2015, which is two years from the date of the notice given to the NRC in February 2013, to remove fuel from the reactor. The project plan has been named the "Post-Shutdown Decommissioning Activities Report" (PSDAR). Once the NRC receives the PSDAR, there will be a 90-day public comment period. Duke then can take up to 60 years to complete the process, from cessation of operations to final decommissioning and termination of license.
Duke can spend up to 3% of the fund on decommissioning planning as it develops the PSDAR, and up to 20% to maintain and monitor plant safety during the safe storage (SAFSTOR) period, in which Duke has license to store radioactive materials, but not to use them to generate power.
In 2012, an overall budget of $753 million was estimated for the decommissioning. This is to be split into annual budgets as the decommissioning project progresses. Duke is planning to officially enter into SAFSTOR by the end of 2014 and begin the actual decommissioning site work in the years that follow. No decision has been made as to when the removal of hazardous or radioactive waste materials and contaminated equipment will begin.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Officially, Duke has until February 2015, which is two years from the date of the notice given to the NRC in February 2013, to remove fuel from the reactor. The project plan has been named the "Post-Shutdown Decommissioning Activities Report" (PSDAR). Once the NRC receives the PSDAR, there will be a 90-day public comment period. Duke then can take up to 60 years to complete the process, from cessation of operations to final decommissioning and termination of license.
Duke can spend up to 3% of the fund on decommissioning planning as it develops the PSDAR, and up to 20% to maintain and monitor plant safety during the safe storage (SAFSTOR) period, in which Duke has license to store radioactive materials, but not to use them to generate power.
In 2012, an overall budget of $753 million was estimated for the decommissioning. This is to be split into annual budgets as the decommissioning project progresses. Duke is planning to officially enter into SAFSTOR by the end of 2014 and begin the actual decommissioning site work in the years that follow. No decision has been made as to when the removal of hazardous or radioactive waste materials and contaminated equipment will begin.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
