The Florida Public Service Commission (PSC) today approved cost recovery for Duke Energy Florida, LLC’s (DEF) new Citrus County power plant, one of the largest industry projects of its kind. The 1,640-megawatt (MW) natural gas facility will provide enough energy to power approximately 110,000 residential homes.
In October 2014, the PSC determined there was a need for DEF to construct a new natural gas-fired power plant to best serve its customers. Located next to DEF’s Crystal River Energy Complex, the plant is comprised of two Units that will be placed in service in two phases—October and December 2018.
“Duke customers will benefit from clean, reliable energy that will help meet federal emissions standards,” said PSC Commissioner Art Graham. “The plant’s construction also generated substantial economic benefits, involving local suppliers and creating Florida jobs.”
As provided in DEF’s approved 2017 Settlement Agreement, the PSC approved the project’s estimated $200,488,588 revenue requirement. A residential customer using 1,000 kWh per month will see a bill increase of $3.59 for phase one (November 2018) and $2.25 for phase two (January 2019). The combined rate increase of $5.84 is $0.71 lower than the estimated increase included in the original filing for the power plant.
The 2017 Settlement Agreement was signed by DEF, the Office of Public Counsel (representing consumers), 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.
DEF, Florida’s second largest investor-owned utility, serves 1.8 million customers.
For additional information, visit floridapsc.com.