Progress Energy Announces Nuclear Power Plant Plans

Aug.31.05 | About: Duke Energy (DUK)

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.

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