The Public Service Commission has approved a rate increase for Progress energy Florida to help the company pay for upgrading one nuclear power plant and building another. The commission Friday voted 3-1 to hike special cost recovery rates for the electric utility – the increase will provide nearly 207 million dollars which will go toward upgrading Progress Energy’s existing nuclear generating plant at Crystal River, and the construction of its proposed nuclear power plants, Levy Units 1 and 2. These projects will add nearly 2400 Megawatts of new nuclear base load generation to Progress Energy’s system, enough energy to power 1.3 million homes.The increase will translate to about 6 dollars on an average residential power bill.
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