A SETTLEMENT AGREEMENT FOR THE LEVY PROJECT cancellation has been approved by the Florida Public Service Commission. On October 25, the PSC approved Duke Energy Florida's settlement agreement to end the Levy nuclear power plant construction project, which was to consist of two Westinghouse API000 reactors at a site in Levy County, Fla. Under the agreement, Duke will not be able to recover about $150 million in remaining customer costs. The agreement also limits annual incremental base rate increases to 1 to 3 percent from 2019 to 2021 and prevents Duke Energy from seeking additional base rate increases until at least 2021. According to a Duke Energy press release, the average customer bill will decrease by $2.50 per 1,000 kWh starting in January as a result of the project's cancellation.
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