GREGORY, S.D.(WNAX)- MidAmerican Energy and Missouri River Energy Services have announced they will stop further development of the proposed Gregory County Pumped Storage Project.

Missouri River spokesman Tim Blodgett says it was the risk involved.

The project would have built a large reservoir on the west bank of the Missouri River southwest of Platte. Then water would have been pumped into the reservoir and released through hydropower generators when more electricity was needed.

Blodgett says there were multiple risks.

Blodgett says they won’t run short of power resources.

Project opponent Lee Qualm of Platte says the move was a surprise.

The projected cost was about one billion dollars.

Qualm says the costs of the project would have outweighed the benefits.

The project cost was up to one billion dollars and would have taken about ten years to build.