PSC approves nuclear cost recovery for PEF and FPL

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 $85,951,036 recovery includes costs associated with construction of its proposed nuclear power plants, Levy Units 1 and 2, and adding capacity to its existing nuclear generating plant at Crystal River.  When completed, these projects will add approximately 2,380 megawatts (MW) of new nuclear base load generation to PEF’s system, enough energy to power 1.3 million homes.
A stipulated agreement, approved in August and included in today’s decision, saves PEF customers $500,000 in Project Management Costs for adding capacity to Crystal River Unit 3 (CR3).  The stipulation--between PEF, the Office of Public Counsel, and other intervenors--resolved whether the company prudently managed its CR3 uprate license agreement.

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