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Judge Dismisses $350M Claim Against Duke Energy

  • By Admin
  • December 30, 2016
  • 22 Views

A federal judge in Charlotte has ruled that Duke Energy does not owe Westinghouse Electric Corp. more than $352 million for development costs on developing the AP1000 reactor and a canceled contract to build the proposed Levy County nuclear plant in Florida.

But instead Duke must pay Westinghouse a $30 million termination fee and $4.3 million in interest. Judge Max Cogburn issued the ruling in the U.S. District Court last week for the Western District of North Carolina.

Originally Westinghouse filed suit, claiming Duke Florida owed it almost $500 million in development costs and the $30 million termination fee but later reduced the claim.

Judge Cogburn stated “Westinghouse was unable to link those development expenses to allowable ‘Termination Costs’ under this contract.”

Duke had filed a counterclaim against Westinghouse, for $51 million but Cogburn dismissed that claim as well.

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