February 8, 2008 / 8:44 PM / 11 years ago

Austin won't join in NRG Texas nuclear expansion

HOUSTON, Feb 8 (Reuters) - The municipal utility serving Austin, Texas, will recommend that the city not join NRG Energy (NRG.N) as a partner in seeking a license for two new nuclear reactors in Texas, the utility said on Friday.

A consultant hired by the Austin utility said the cost of the two-unit expansion, estimated at $6 billion, and the construction schedule were overly optimistic and represent an “unacceptable degree” of risk.

The consultant said the project could cost an additional $1 billion and require two extra years to build, according to an Austin Energy release.

NRG is pursuing a license for two 1,350-megawatt General Electric Co (GE.N) advanced boiling water reactors to be built at the South Texas Project (STP) nuclear power plant 90 miles southwest of Houston. (Reporting by Eileen O’Grady; Editing by Christian Wiessner)

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