Duke Energy's 'Pig in a Poke'

As Duke Energy (DUK) was about to finalize its merger with Progress Energy, Duke developed concerns that it may have bought "a pig in a poke." It appears that Duke was in receipt of new cost estimates to repair Progress' Crystal River Nuclear Power Plant, and it appears those estimates were worse than expected.

Crystal River is an 838-megawatt plant in Florida that uses pressurized water reactor (PWR) technology to produce steam. The plant was commissioned in 1976, and it's scheduled to retire in 2016, unless it receives a 20-year license extension from the Nuclear Regulatory Commission....634 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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