- Paul Brinkmann
- Reporter- South Florida Business Journal
- Florida Power & Light has received approvals from the Florida Public Service Commission two days in a row for rate increases tied to nuclear plant improvements.
One Tuesday, FPL was approved for a rate increase to cover increased operating costs due to “uprates” or improvements of St. Lucie and Turkey Point nuclear plants. FPL’s approved $246 million revenue increase represents a base rate increase of $2.59 per month on a typical 1,000 kilowatt hour residential bill beginning in January.
Tuesday’s approval came one day after the commission also approved a cost-recovery rate increase that will start in January for future expansion of both nuclear plants.
Tuesday’s approval was for the addition of 367 megawatts of nuclear generating capacity due to extended ‘up-rate’ projects at St. Lucie Units 1 & 2 and Turkey Point Unit 3.
The commission said in a news release that the added capacity would benefit Florida customers. Over the life of the projects, the improvements are estimated to save $3.8 billion. These figures also include the project currently underway at Turkey Point Unit 4, which will add 123 megawatts of capacity upon completion next year.
http://www.bizjournals.com/southflorida/news/2012/11/27/fpl-base-rate-also-rising-for.html
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