Progress Energy is seeking to invest up to $1.3 billion to upgrade its Crystal River nuclear plant in Florida instead of permanently closing it down. Nuclear energy is still one of the most cost-effective ways to generate electricity, the utility said in explaining its choice. "Based on our initial review, our objective is to return the plant to service to ensure that it continues to be a safe, dependable and emission-free resource to meet our customers' energy needs reliably and affordably for many years to come," said Vincent Dolan, president and CEO of Progress Energy.

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