No decision on Progress Energy's broken nuclear plant

Last Updated: Monday, January 07, 2013, 4:24 PM EST

State regulators met with Progress Energy executives Monday to discuss the future of the broken Crystal River nuclear reactor. 

Progress Energy officials said they still don't know if the utility is going to repair the broken nuclear power plant or if it will close the facility.

Executives told state leaders they are still waiting to hear if they will get an insurance payout. That money would cover more than half of the repairs.

The Crystal River plant has been shut down for three years because of cracks found in a reactor.

Progress Energy said the decision about the insurance money may not come until the spring.

When it does, regulators want Progress to act quickly.

"It should be obvious that this is an important issue, that all the parties are involved, that all the parties are coordinating," said Eduardo Balbis of the Public Service Commission. "It's affecting a great number of Floridians and it's something that this commission is watching closely."

Progress had planned to refund $100 million to customers are repairs didn't begin by the end of December.  Now the company said that refund will only come if the plant isn't back in operation by 2015.