Florida PSC approves Duke Energy Florida’s cost recovery plan
The Florida Public Service Commission (PSC) approved the cost recovery proposal submitted by Duke Energy Florida to develop five solar projects, totaling 374.1 megawatts (MW).
Customer savings are estimated at $37 million over the life of these projects. Further, when carbon dioxide emission costs are included, customer savings increase to $234 million.
“With these five projects, Duke Energy will reach more than 700 MW of solar additions since 2019. Florida customers will continue to benefit from emissions-free, cost-effective energy for decades,” PSC Chairman Gary Clark said. “Customers will also benefit from increased fuel diversity and system reliability, as well as the deferral of new plant construction.”
PSC officials said Duke Energy Florida’s solar projects—Twin Rivers, Santa Fe, Charlie Creek, Duette, and Sandy Creek—are cost-effective and meet the agreement provisions. Each project is designed to produce about 75 MW of power.
Four of these projects will be in-service this year – in either February, March, or December. Sandy Creek is expected to come online in April 2022.
Duke Energy Florida requested approval of $62.5 million in total annual revenue requirements for its third and last group of projects. In April 2019, the PSC approved cost recovery for the company’s first group of solar projects — Hamilton and Columbia, with a total capacity of 149.8 MW. Then, in July 2019, cost recovery was approved for Duke Energy Florida’s second set of solar projects: Trenton, Lake Placid, and DeBary, with a total capacity of 194.4 MW.
Duke Energy Florida – a subsidiary of Duke Energy — serves 1.8 million customers in Florida.
