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Duke Owes $352M In Plant Termination Costs, 4th Circ. Told

Law360, New York (July 26, 2017, 2:51 PM EDT) -- Westinghouse Electric Co. has told the Fourth Circuit it’s entitled to $352 million plus interest in termination costs from Duke Energy Florida Inc. for Duke’s backing out of a contract for a Florida nuclear power plant, arguing the district court misread the agreement when it denied the payment.

Westinghouse said on Monday that the plain language of its agreement with Progress Energy Florida, which was later acquired by Duke, said that if the contract for the nuclear plant was terminated, Westinghouse would be compensated for fair...
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