NC: Duke can spend $120 million on SC nuke plant

RALEIGH, N.C. (AP) — The North Carolina Utilities Commission has ruled that the Charlotte-based utility can spend up to $120 million to maintain a potential new $11 billion nuclear power plant in South Carolina.

In a decision released last week, the commission said Duke could spend the money to maintain the site of the proposed Lee Nuclear Station in Cherokee County, S.C.

Duke Energy said in March that the utility wanted to spend up to $459 million in development costs. But in May, Duke Energy filed an amended application, saying it agreed with the Public Staff’s position that it should be allowed to spend up to $120 million from Jan. 1, 2011, through June 30, 2012. But the commission’s decision sets no time limit for spending the money. .