Citing the desire to reduce fuel cost volatility and the need to minimize risk for customers, the Florida Public Service Commission (PSC) today revised Florida Power & Light Company’s (FPL) requested guidelines for future gas reserve projects. To ensure continued fuel savings and other customer protections, the Commission will review the guidelines every three to five years.
The Commission strengthened the audit requirements to require detailed analysis of gas reserve performance throughout the company. Furthering customer protection, the Commission reduced FPL’s requested annual average daily natural gas burn percentages and capped the maximum allowed volume at 20 percent, and also reduced the annual project investment cap from $750 to $500 million.
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