(The following is a reformatted version of a press release
issued by the Florida Public Service Commission and received via
electronic mail. The release was confirmed by the sender.)
November 26, 2012
CONTACT: (850) 413-6482
PSC Approves Nuclear Cost Recovery for FPL and PEF
TALLAHASSEE -- To help secure a diversified and stable energy
future for Florida, the Florida Public Service Commission (PSC)
today approved cost recovery amounts for construction of planned
nuclear generating plants and additions to existing nuclear
plants for Progress Energy Florida (PEF) and Florida Power &
Light Company (FPL).
PEF’s approved recovery of approximately $143 million includes
costs associated with construction of its proposed nuclear power
plant, Levy Units 1 and 2, and adding capacity to its existing
Crystal River 3 (CR3) nuclear generating plant. CR3 recovery
includes only prudent 2011 uprate costs, since the Commission
approved PEF’s motion to defer 2012-13 CR3 project cost recovery
to next year. When completed, PEF’s nuclear projects are
projected to add approximately 2,380 megawatts (MW) of new
nuclear base load generation to its system, enough energy to
power 1.3 million homes.
FPL’s approved recovery of approximately $151 million recovery
includes costs associated with construction of its planned
Turkey Point Units 6 and 7 and adding capacity to existing
Turkey Point Units 3 and 4 and St. Lucie Units 1 and 2. When
completed, these projects are projected to add approximately
2,722 MW of new nuclear base load generation to FPL’s system,
enough energy to power 1.4 million homes.
Estimated 2013 residential nuclear cost recovery, based on
current sales forecast, is about $4.79 per month for the first
1,000 kilowatt hours (kWh) for PEF customers and about $1.69 per
month for the first 1,000 kWh for FPL customers. Approved
amounts for both PEF and FPL customer bills will be recovered
through the fuel and capacity cost recovery charge on customer
bills beginning in January.
To encourage the development of nuclear power, the Florida
Legislature enacted a law in 2006 to permit utilities to recover
some nuclear plant project costs during the construction
process. The PSC then adopted a rule on how to evaluate those
costs annually. Annual PSC nuclear cost recovery hearings, held
this year in September, allow Commissioners to hear testimony
from the utilities and consumer groups on recovery of actual and
estimated project costs.
For additional information, visit www.floridapsc.com.
Follow the PSC on Twitter, @floridapsc.
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