Florida Public Service Commission signs off on nuclear cost recovery for Progress, Florida Power & Light
Oct 24, 2011
The following article was published in The Florida Current on October 24, 2011:
PSC signs off on nuclear cost for Progress, FPL
By Travis Pillow
The Florida Public Service Commission approved cost-recovery rates for two Florida utilities seeking to charge customers for nuclear projects on Monday.
Florida Power & Light Co. of Miami won approval of $196 million to pay for upgrades of existing nuclear plants and for two prospective reactors at Turkey Point, which would lead to a total monthly charge of $2.20 per month per 1,000 kilowatt-hours.
Progress Energy Florida of St. Petersburg sought to recover $141 million. Commissioners voted to approve $86 million, which would bring the rate charge for 1,000 kilowatt-hours to $2.93 per month, down from the current $5.53 monthly charge, mostly for planned new reactors in Levy County and an upgrade of its Crystal River nuclear power plant, which has been offline since September 2009 for repairs to a major crack in its reactor containment building..
Commissioners opted to side with the Office of Public Counsel, in opposing the acceleration of Progress’s amortization schedule. PSC Chairman Arthur Graham said it did not make sense to move up payments during a slow economy.
“Anything you can put off till tomorrow is a good thing, with the economy we have today,” he said.
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