Seeking Alpha
Profile| Send Message| ()  

Progress Energy (PGN) became one of the first utilities to announce its intentions to file for a license to build a new nuclear power plant, in one of the earliest actions in direct response to the recently passed Energy Bill, writes utility analyst Sandy Cohen.

The new Energy Bill has many aspects that will have an effect on utilities' near- and long-term future strategic and financial planning. One aspect were provisions that encourage, and enable, nuclear power plant planning and construction.

PGN's recent announcement is one of the first such announcements. Though we do not expect a large number of these announcements, as there are only a few companies that have the ability and interest to plan, build, and operate the new generation of nuclear power plants, we would expect to see a number of these announcements over the next year.

See the news release from PGN for more details on timing, etc.: PGN's News Release on a New Nuclear Power Plant.

« Opinions expressed here are those of the individual authors and do not necessarily represent the opinion of SeekingAlpha or its management. »

Not subscribed to this blog? You can get updated headlines for free by adding any of the Seeking Alpha Network Blogs to your My Yahoo page. Just log into your My Yahoo page, then go to this blog and click on the "+ My Yahoo" button on the top right of your screen.

Source: Progress Energy Announces Nuclear Power Plant Plans