The Florida Public Service Commission (PSC) today approved cost recovery for Duke Energy Florida, LLC’s (DEF) development of three more solar projects. These projects generate clean energy, diversify the utility’s fuel mix, and save customers an estimated $105 million.
“Duke Energy’s solar projects will help the utility provide clean, cost-effective energy now and in the future to benefit Florida customers,” said PSC Commissioner Art Graham. “With utility expansion of renewable generation, Florida consumers continue to benefit from emissions-free energy.”
The PSC found DEF’s solar projects—the Trenton Project, the Lake Placid Project, and the DeBary Project—are cost effective and meet the provisions of its 2017 Settlement Agreement. The Trenton Solar Power Plant, a 74.9 megawatt facility in Gilchrist County, and the Lake Placid Solar Power Plant, a 45 MW facility in Highlands County, are expected to be in service in December 2019. The DeBary Generating Station, a 74.5 MW facility in Volusia County, is expected to be online by the first quarter of 2020.
As defined in DEF’s agreement, the company is authorized to request PSC approval for cost recovery of up to 700 MW of solar generation during the agreement term, and specifically up to 350 MW in 2019. This is DEF’s second round of solar projects under the provisions of the 2017 Settlement Agreement.
DEF requested approval of $32 million in total annual revenue requirements for the second group of projects, petitioning for cost recovery through a Solar Base Rate Adjustment (SoBRA). A SoBRA allows the PSC to consider adding solar projects to a utility’s rate base without the expense of a full rate case proceeding.
In April, the PSC approved cost recovery for DEF’s first group of solar projects, the Hamilton Solar Power Plant and the Columbia Solar Power Plant.
DEF serves 1.8 million customers in Florida.
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