Fla. Reforms Controversial Nuclear Cost Recovery Act

Law360, Miami (June 17, 2013, 6:16 PM EDT) -- Florida Gov. Rick Scott signed into law Friday amendments to the controversial Nuclear Cost Recovery Act, adding protections for consumers and benchmarks aimed at greater transparency and accountability from public utilities in the state.

The governor signed S.B. 1472, which scaled back the 2006 statute by forcing utilities that use the statute to recover costs for nuclear power plants to begin construction within 10 years of receiving a license from the National Regulatory Commission.

Under the new law, utilities will also have to petition the state's...
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