Westinghouse Responds to Florida PSC's Rate Decision

Monday, Jan 18, 2010

PITTSBURGH, Jan. 15 /PRNewswire/ -- The Florida Public Service Commission's (PSC) decision to reject Florida Power & Light's (FP&L) rate increase request will likely have a significant and long-term negative impact on both the Florida economy and environment.

Conservatively estimated, construction of the two new AP1000(TM) nuclear power plants that FP&L has now delayed would have each generated 2,500 good, local jobs across a wide range of disciplines, including but not limited to: the building trades, manufacturing, project management, information technology and the services sector.

Additionally, Westinghouse and its partners are committed to procuring as much product and material as possible from local, regional and state suppliers. This "Buy Where We Build" approach to business would include, but not be limited to, concrete and other building materials.

From an environmental perspective, new nuclear construction would provide a safe, non-polluting source of baseload electricity that will be necessary for Florida to maintain and expand its economy.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first PWR in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including 60 percent of those in the United States.

Source: PR Newswire