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Public Service Commission


09/08/2010 Contact: 850-413-6482

PSC Approves Stipulation for FPL Nuclear Cost Recovery

TALLAHASSEE — By a 3 to 2 vote Tuesday, Florida’s Public Service Commission (PSC) approved a stipulation between the parties regarding Florida Power & Light Company’s (FPL) recovery of nuclear costs.  The stipulation, however, does not restrict the PSC’s responsibilities under the law to further investigate actual and proposed costs related to nuclear projects. 

Entered into by FPL, the Office of Public Counsel, and the Florida Industrial Power Users Group, the stipulation acknowledges the law requiring the PSC to determine the prudence and reasonableness of FPL’s nuclear costs during hearings next year.  The Southern Alliance for Clean Energy objected to the stipulation.  Commencing in January, 2011, FPL will begin recovering $31 million in nuclear related costs.

In July, Commission audit staff requested additional time to investigate costs associated with the uprate of FPL’s St. Lucie nuclear plant, after a critical internal FPL report and withdrawal of FPL’s St. Lucie Unit 1 EPU License Amendment Request.  The stipulation provides for that, as well as the preconstruction costs related to FPL’s Turkey Point Nuclear Units 6 and 7.

Each year by October 1, the Commission is required by rule to conduct a hearing to review the nuclear project costs for Florida’s investor-owned utilities.  Discussion on Progress Energy Florida’s (PEF) actual and projected costs for its Crystal River and Levy County plants concluded during the Commission’s Nuclear Cost Recovery Hearing in August.  On October 12, the Commission is scheduled to vote on PEF’s nuclear costs and other outstanding nuclear issues.         

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