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AWEA Issues Fourth Quarter 2019 Market Report

LCG, February 7, 2020--The American Wind Energy Association (AWEA) recently released its new U.S. Wind Industry Fourth Quarter 2019 Market Report. AWEA reports new wind turbine installations have added 5,476 MW of electric generating capacity during the fourth quarter, which results in 2019 installations totaling 9,143 MW. The total installations represent an increase over 2018, but the total for 2019 falls short of total annual installations for 2015 and 2016. In addition to new capacity additions, developers completed 2,500 MW of turbine repowerings for the year.

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Duke Energy Florida Announces New Solar Power Projects

LCG, January 29, 2020--Duke Energy Florida (DEF) Monday announced the locations of its two newest solar power plants that will provide a combined installed capacity of nearly 150 MW. DEF is investing an estimated $1 billion to construct or acquire a total of 700 MW of cost-effective solar power facilities from 2018 through 2022 in Florida, and planning for another 1,500 MW of solar generation through 2028.

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Industry News

Florida PSC Approves Cost Recovery for New Nuclear Reactors

LCG, October 25, 2011--The Florida Public Service Commission (PSC) yesterday approved cost recovery for construction of nuclear reactors and additions to existing nuclear plants for Progress Energy Florida (PEF) and Florida Power & Light Company (FPL). The PSC approval of over $280 million provides for the utilities to begin recovering some nuclear project costs during the lengthy construction process in order to reduce financing costs.

For PEF, the PSC approved $85,951,036 cost recovery associated with construction of Levy Units 1 and 2, two, 1,100-MW nuclear reactors, plus capacity increases at its existing nuclear facility at Crystal River. When completed, these projects will add approximately 2,380 MW of new nuclear base load generation to PEF's system. The PSC states that the decision will saves PEF customers $500,000 in Project Management Costs for adding capacity to Crystal River Unit 3. The decision incorporates a stipulation that resolves whether PEF prudently managed its Unit 3 uprate license agreement.

The PSC approved $196,088,824 of cost recovery for FPL associated with (i) construction of Turkey Point Units 6 and 7 and (ii) adding capacity to existing Turkey Point Units 3 and 4 and St. Lucie Units 1 and 2. In total, FPL's projects will add over 2,600 MW of nuclear capacity. When combined with the PEF projects, Florida will gain about 5,000 MW of carbon-free, nuclear power when these plants commence commercial operations.
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