The biggest energy company in the US has announced it will not be proceeding with a $24 billion (£15.7bn) nuclear power project in central Florida, reports claim.
Delays in licensing of new plants by the Nuclear Regulatory Commission and doubts about cost recovery are believed to have led to the decision, however, Duke Energy said it may still use the site for nuclear energy generation in the future.
The news follows a recent research that claimed more than three dozen nuclear reactors in the US are at risk of early retirement.
Alex Glenn, President of Duke Energy’s utility operations said: “We continue to believe that a balanced energy portfolio, including renewable energy, energy efficiency and state-of-the-art cleaner power plants are critical to securing Florida’s energy future.”
Duke Energy Florida provides electricity to approximately 1.7 million customers in Florida.
Official figures state there are currently 100 reactors licensed to operate in the US, with a total capacity of around 97,843MW.
The US Government announced funding worth $3.5 million (£2.3m) for four advanced nuclear reactor projects in the country earlier this month.