MARKET TALK: US Nuclear Buildout Needs Policy Certainty -FPL
March 04 2010 - 1:32PM
Dow Jones News
(Dow Jones) U.S. utilities need more certainty as to whether and
when the U.S. will establish a cap on greenhouse-gas emissions and
what the rules will look like before power companies can decisively
move ahead to develop new nuclear power plants, says FPL Group Inc.
(FPL) Chief Executive Lew Hay. FPL wants to build about 2,400
megawatts of new nuclear power generation in Florida, at an
estimated cost of $16 billion to $18 billion. But it's hard to
justify the high cost and roughly 10-year development and
construction timeline unless returns are more certain, Hay says,
speaking at the Wall Street Journal's Eco:nomics conference in
Santa Barbara. "We need some certainty about the economics," Hay
says. "Are we going to have a price on carbon and if so, what's it
going to be?" (cassandra.sweet@dowjones.com)
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