Progress Energy had a slight dip in second-quarter earnings compared to last year and faces continuing questions about a massive repair project at a Crystal River nuclear plant, according to an earnings report and conference call Thursday.
The North Carolina-based company, which runs the second-largest utility in Florida, reported quarterly earnings of $176 million, or 60 cents a share. That was down from $180 million, or 62 cents a share, during the same period last year.
Ongoing earnings, which exclude such things as the costs of discontinued operations, totaled $211 million, up from $181 million during the second quarter last year.
During a conference call with analysts, company officials also discussed a repair project at Crystal River that will cost $900 million to $1.3 billion and shut down the plant until 2014.
Progress is in talks with its insurer about paying for the repairs and part of the cost of replacement power.
