http://www.cleanenergy.org/2013/10/01/statement-on-florida-public-service-commissions-approval-of-fpls-nuclear-cost-recovery-for-proposed-turkey-point-reactors/

SACE | Southern Alliance for Clean Energy

Statement on Florida Public Service Commission’s Approval of FPL’s Nuclear Cost Recovery for Proposed Turkey Point Reactors

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FOR IMMEDIATE RELEASE
Contact: Jennifer Rennicks, Southern Alliance for Clean Energy, 865-235-1448

Statement on Florida Public Service Commission’s Approval of FPL’s Nuclear Cost Recovery for Proposed Turkey Point Reactors

Tallahassee, Fla.///NEWS STATEMENT/// The Florida Public Service Commission (PSC) today approved over $17 million alone in advanced cost recovery for Florida Power and Light’s (FPL) proposed Turkey Point nuclear reactors. A statement from Stephen A. Smith, Executive Director of Southern Alliance for Clean Energy (SACE) follows.

“The Florida Public Service Commissioners once again played lap dog to the state’s largest power company and failed Florida’s families and businesses by approving FPL’s request of over $17 million for its proposed Turkey Point reactors near Miami. Duke Energy Florida’s wise cancellation of a similar proposed reactor project in Levy County and an amendment to the advanced nuclear cost recovery law passed earlier this year by the Florida Legislature to rein-in unbridled cost recovery, should have led to a higher level of scrutiny by the Commissioners on the recovery of costs for FPL’s increasingly speculative reactor project.

But it clearly did not. Today’s decision represents business-as-usual in Florida. FPL customers are being forced to pay this unfair ‘nuclear tax’ upfront for electricity that will likely never be produced from proposed reactors that are expected to cost at least $18.5 billion. The Commission’s approval is even more disappointing considering the revelation during the August hearing that if the nuclear reactors were built, projected fuel savings extolled by FPL would not provide a net benefit to customers until 25 to 36 years from today, if at all. The changing market conditions make forecasting these speculative benefits highly unlikely 25 years into the future, yet FPL customers are paying real dollars today for nothing. Moreover, the feasibility analysis of the project was skewed in favor of the project by never allowing lower cost, lower risk energy efficiency programs to compete head-to-head with the proposed reactors in meeting projected electricity demand. In fact, it was revealed that FPL achieves a meager 0.2% annual energy savings from efficiency programs, which makes it a laggard relative to leading utilities around the country that are achieving five times the energy savings – and helping customers save money on their bills.

The system is clearly broken in Florida in terms of energy planning – we have a PSC beholden to big power companies that time-after-time turns a blind eye to the realities that every day Floridians are facing. Florida needs new leadership to stop this cycle and move the state towards a clean, affordable energy future.”

Find Southern Alliance for Clean Energy’s final post hearing statement and brief for the 2013 nuclear cost recovery clause docket here.

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Founded in 1985, the Southern Alliance for Clean Energy is a nonprofit organization that promotes responsible energy choices that create global warming solutions and ensure clean, safe, and healthy communities throughout the Southeast. Learn more at www.cleanenergy.org