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Florida PSC approves cost recovery for new Duke Energy power plant

The Florida Public Service Commission (PSC) approved cost recovery for Duke Energy Florida’s new Citrus County power plant.

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The Citrus County power plant is a 1,640-megawatt (MW) natural gas facility that will power approximately 110,000 residential homes. It is one of the largest projects of its kind.

The plant — located next to Duke Energy Florida’s Crystal River Energy Complex – consists of two units. The units will be put into service in two phases— the first in October and the second in December 2018.

“Duke customers will benefit from clean, reliable energy that will help meet federal emissions standards,” PSC Commissioner Art Graham said. “The plant’s construction also generated substantial economic benefits, involving local suppliers and creating Florida jobs.”

The Florida PSC approved the Citrus County facility’s estimated $200,488,588 revenue requirement. Thus, a residential customer using 1,000 kWh per month will see an increase of $3.59 in their monthly bill for phase one and $2.25 for phase two. Taken together, the combined rate increase of $5.84 is $0.71 lower than the estimated increase in the original filing for the power plant.

Duke Energy Florida, the Office of Public Counsel, the Florida Industrial Power Users Group, the Federal Retail Federation, White Springs Agricultural Chemicals, Inc. d/b/a PCS Phosphate, and the Southern Alliance for Clean Energy all signed the settlement agreement.

The post Florida PSC approves cost recovery for new Duke Energy power plant appeared first on Daily Energy Insider.

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