Posts Tagged ‘fpl’

Before deaths, Gov. Rick Scott and Hollywood nursing home owner were chummy

Thursday, October 26th, 2017

By Dan Christensen
FloridaBulldog.org
Before Gov. Rick Scott and South Florida healthcare mogul Dr. Jack Michel began pointing fingers at each other after elderly patients baked to death in Michel’s now-closed Hollywood nursing home, the two men were pals of a sort.
The post Before deaths, Gov. Rick Scott and Hollywood nursing home owner were chummy appeared first on Florida Bulldog.

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Bill to allow Florida PSC to grant utilities the ability to invest in natural gas reserves advances in Senate committee

Tuesday, March 14th, 2017

Florida Senators unanimously passed a proposal Tuesday in a committee that would allow electric utilities to invest in natural-gas reserves and recoup their money from their customers. The legislation would allow any Florida power company that uses natural gas for 65 percent or more of its power generation to explore for natural gas out of state using residential ratepayer’s money.
The bill from Fernandina Beach Republican Aaron Bean bill (SB 1238) is a response to the Florida Supreme Court’s rejection last May to Florida Power & Light’s program of investing ratepayers money into a controversial Oklahoma natural-gas project.
FPL had been granted the go-ahead in 2014 by the Florida Public Service Commission, who approved their request to invest in the drilling and production of natural gas in as area known as the Woodford Gas Reserves Project in Oklahoma. But the Supreme Court ruled 6-1  last year that the PSC did not have the authority to grant FPL that option. The Senate Committee on Communications, Energy, and Public Utilities’s vote Tuesday essentially overrode that decision.
Senator Bean told the committee that the PSC would have the authority to allow energy companies to go forward if each investment is expected to generate savings for the customer over the life of the investment; each investment must have at least 50 percent of the wells classified as proven reserves by the Securities and Exchange Commission; and the total volume of gas approved would be limited to 7.5 percent in 2018, 10 percent in 2019, 12.5 percent in 2020 and 15 percent in 2021.
There were several members from the public who spoke out against the bill.
“If they think it’s a great idea, why would we have a speculative risk on backs of ratepayers as opposed to the shareholders?” asked Susan Glickman, the Florida Director of the Southern Alliance for Clean Energy. “This is about socializing the risk and privatizing the profits.”
Jon Moyle, an

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FPL to build 8 new Florida solar energy plants, add 2.5M panels by 2018

Monday, February 20th, 2017

Florida Power & Light Co. is doubling down on solar power, announcing Monday a significant expansion of renewable energy production through next year.
FPL, currently the largest generator of solar energy in Florida, will build eight new universal solar power plants by early 2018 – boosting its production with more than 2.5 million solar panels.
“We have been working hard to drive down the costs of adding solar,” said FPL President/CEO Eric Silagy, “so we can deliver even more zero-emissions energy to all of our customers.”
FPL was the first company to build cost-effective solar power generation in Florida, Silagy added, promising to lead the advancement of an infrastructure for affordable, clean energy.
“We have proven that it’s possible to cut emissions and deliver reliable service while keeping electric bills low for our customers,” he said during an event Monday morning at the Manatee Solar Energy Center.
The Manatee facility is one of FPL’s three most recently completed solar power plants, along with its Citrus Solar Energy Center and Babcock Ranch Solar Energy Center. Each plant began powering FPL customers Dec. 31, 2016.
A subsidiary of Juno Beach-based NextEra Energy, FPL is consistently ranked as one of the nation’s cleanest, most reliable energy providers, as well as one of the most affordable. FPL’s typical 1,000-kilowatt-hour residential customer pays less than 10 years ago, and rates are well below the current national average. The company believes the new solar centers will remain cost-effective over time, with millions of dollars in long-term savings for FPL customers.
Each of the planned eight new solar plants – located throughout Florida — will have a capacity of74.5 megawatts, producing nearly 600 megawatts total – enough to power nearly120,000 homes. The additional facilities will be in addition to the three previously announced locations in Alachua, Putnam and DeSoto counties.
Building is expected to commence

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FPL parent NextEra Energy misses Wall Street expectations

Thursday, February 2nd, 2017

NextEra Energy Inc., the parent of Florida Power & Light, reported fourth-quarter earnings of $966 million, or $2.06 per share.
The Juno Beach-based company said its adjusted earnings were $1.21 per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The company posted revenue of $3.7 billion in the period.
For the year, NextEra reported a profit of $2.91 billion, or $6.25 per share. Revenue was reported as $16.16 billion.
FPL, the primary power provider in Manatee, Sarasota and Charlotte counties, reported earnings that were relatively flat during the final three months of 2016, when it had net income of $371 million, or 79 cents per share. That compared with $365 million, or 79 cents per share, during the fourth quarter of 2015.
NextEra expects full-year earnings of $6.35 to $6.85 per share.
The company shares have decreased nearly 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 3 percent. The stock has increased 11 percent in the last 12 months.
NextEra shares, which trade on the New York Stock Exchange, closed Friday at $121.37, up $2.62, or 2.2 percent.
The post FPL parent NextEra Energy misses Wall Street expectations appeared first on Florida Politics.

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Sierra Club challenges nearly $1 billion electric rate hike

Wednesday, January 18th, 2017

An environmental group is challenging a rate hike for Florida’s largest electric utility.
The Sierra Club on Tuesday asked the state Supreme Court to reject an $811 million hike that was approved last year for Florida Power & Light. FPL has about 4.8 million customers in the state.
FPL initially wanted a $1.3 billion hike but scaled it back during settlement negotiations. The hike was approved by the Florida Public Service Commission, and part of it took effect this month.
Company officials said the higher rates would help pay for improvements, including a new natural gas plant.
But Sierra Club officials maintain state law required FPL to present “substantial evidence” to prove the gas plants were needed. They assert the company never showed if it considered options such as solar.
Republished with permission of The Associated Press.
The post Sierra Club challenges nearly $1 billion electric rate hike appeared first on Florida Politics.

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Tampa Bay Times’ mind-boggling figures in ‘rooftop solar fight’ don’t add up

Wednesday, November 2nd, 2016

Consider the eye-grabbing Tampa Bay Times’ front-page headline Wednesday: $43M spent to limit solar.
Beyond the silliness of assuming that every dollar utilities donated this cycle is part of a plot to fight rooftop solar — as if there is nothing else they care about — the story is screwed up six ways to Sunday.
If a politician were to use these numbers, PolitiFact would rate them somewhere in the range of Mostly False to Pants on Fire.
Let’s start from the top:
“Lost in the tumultuous presidential election and the down-ballot fears, something big has been happening quietly in Florida this year: Electric companies have dropped $42.7 million into political campaigns.”
Well, $42.7 million rounds up to $43 million so this makes sense … until you read the next line:
“Since January 2015, $20 million of the industry’s profits went to finance and promote Amendment 1, the ballot initiative that attempts to frustrate the expansion of consumer-owned rooftop solar in Florida, but another $15 million went to fuel the campaigns of a select group of powerful legislative leaders to prepare for a prolonged war against rooftop solar.”
Hmm …  $20 million to Amendment 1 plus $15 million on campaigns adds up to $35 million … not $42.7 million or $43 million.
Where’s the other $7.7 million to $8 million? Keep reading.
“According to Division of Elections reports, the biggest spender on the effort is Florida Power & Light, the state’s largest electric utility, which has poured $22.2 million into political campaigns this cycle — $14.2 million into state legislative campaigns, and $8 million to Consumers for Smart Solar, the utility-backed political committee promoting the amendment on the Nov. 8 ballot.”
OK, so FPL donated $14.2 million toward “state legislative campaigns” and an additional $8 million to Consumers for Smart Solar for $22.2 million.
If that sounds high, it’s because it is.
The Division of Elections shows

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FPL upgrading field communications system

Thursday, October 20th, 2016

Florida Power & Light Co. plans to upgrade its communications system to a digital format. The company promised improved responses to power outages and connections to first responders during emergencies.
The utility said Thursday it would abandon its existing analog network in favor of a digital system supplied by Harris Corp, including command consoles and handheld radios for the more than 3,000 FPL field employees across the 35 counties it serves.
“This represents an example of two major Florida companies working together to provide our residents with the best level of service and support possible,” said Eric Silagy, FPL’s president and chief executive officer.
The company, which serves 10 million Floridians, expects the new system to be completed during 2018.
The post FPL upgrading field communications system appeared first on Florida Politics.

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Hurricane Matthew represents a major test for Florida utilities

Friday, October 7th, 2016

Florida power companies are prepared for Hurricane Matthew, which is already causing significant power outages throughout the state.
But the storm, a Category 3 as of this writing, also represents a test — whether North Florida’s energy infrastructure can handle powerful winds and the resulting storm surge flooding.
While utilities throughout the Southeastern U.S. have been actively preparing for such an event, CNBC reports that Matthew will nonetheless present a serious challenge to the region’s power grid, as millions of Floridians could be left without power.
The Florida Power & Light Company, which services roughly half of the state’s population, estimates as many as 1.2 million customers could be affected if Matthew continues on its current path up the state’s east coast.
Even though 12,000 workers have been activated for emergency response, Floridians could face still multiple power outages. Since 2006, FPL has invested more than $2 billion on grid improvements, with the goal of restoring power in as short a time as possible.
After back-to-back hurricane seasons of 2004 and 2005, bringing a series of devastating storms, CNBC notes that utilities have shored up their systems, with improved coordination between companies and within the communities they serve.
Hurricane Hermine, which slammed into the Florida Panhandle and Tallahassee one month ago, gave utilities a chance to test their systems. Although Hermine represented a sort of dress rehearsal, Matthew will still prove challenging — particularly because of its massive scale.
“We’re breaking a little bit of new ground here,” Ted Kury, director of energy studies at the University of Florida’s Warrington College of Business, told CNBC. “Some of this is unknown.”
Nevertheless, Kury pointed out that utilities should come through Matthew with minimal threat to power generation, transmission systems and power plants since they have “adequately fortified” against the storm.
“I’d be very surprised if a power plant itself failed.

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FPL halfway to sunny goal of 1 million solar panels installed by year’s end

Thursday, September 15th, 2016

Florida’s top utility is kicking its solar capacity into high gear, celebrating the halfway mark of an audacious goal of one million solar panels in operation by the end of 2016.
Florida Power & Light, the state’s largest solar power generator, announced Thursday the installation of its 500,000th solar panel, part of a plan to bring three new solar energy centers online this year.
Each of the proposed centers expects to generate 74.5 megawatts of generating capacity a piece, making them among the most powerful solar facilities in the eastern U.S.
“We’re tripling the amount of solar energy we generate for our customers this year, and we plan to continue adding more cost-effective solar in the future,” said FPL President Eric Silagy. “Laid end to end, the 1 million solar panels would just about wrap around the entire coastline of Florida, or put another way, would extend from Florida to Chicago.
“Today, we’re halfway there. Undeniably, Florida’s clean energy landscape is bright, and we’re proud to continue leading the advancement of affordable, clean solar energy for our customers.”
With newer technologies, construction of FPL solar centers has become more cost-efficient, which FPL says will result in no net cost to customers after savings from fuel and other expenses.
Currently, three large-scale universal solar sites, as well as several smaller installations statewide, produces 110 megawatts of solar power. The three new solar energy centers — in Manatee, DeSoto and Charlotte counties, in addition to other commercial-scale installations – will produce more than 225 new solar megawatts in 2016.
FPL solar energy production now under construction are the Babcock Ranch Solar Energy Center in Charlotte County; Citrus Solar Energy Center in DeSoto County; and Manatee Solar Energy Center in Manatee County.
Other active commercial solar facilities include ones at Daytona International Speedway; Florida International University; the Broward Young Art Museum & Library; and the Palm Beach Zoo

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