The Florida Public Service Commission on Tuesday approved Duke Energy Florida’s plan to sell bonds backed by customer charges to cover the remaining costs of the Crystal River Nuclear Plant.
According to the Citrus County Chronicle, the bond issue is valued at approximately $1.283 billion plus costs that will bring the total to about $1.314 billion.
Electric customers must pay the principal, interest and related ongoing financing costs of the bonds through nuclear asset recovery charges.
The Chronicle reports that will ultimately result in lower costs for ratepayers than the alternative method of increasing base rates.