Florida Regulators OK Rate Increase for FP&L Nuclear Build

Florida Power and Light Co. was given the go-ahead to raise an additional $196 million to fund uprates at its St. Lucie and Turkey Point reactors, as well as planning for two new units.

Florida Power & Light Co.On Monday the Florida Public Service Commission voted unanimously to approve the request, the Miami Herald reported, after commissioners cited state laws relating to nuclear construction. About $24 million will go toward developing two new AP1000 reactors at Turkey Point.

The new charge for nuclear power, which state regulators review yearly, will amount to an additional $2.09 per 1,000 kilowatt hours starting in 2012.

The commissioners’ vote is likely also good news for Progress Energy, which has a $140 million request pending that would go toward a new reactor at its Crystal River plant.

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