By Editors of Power Engineering
Commissioners agreed with FPL that the $451 million purchase is more cost-effective than continuing above-market payments under an existing power purchase contract through 2025.
“Today, all parties agreed that a streamlined hearing process was in the best interest of FPL’s customers,” said PSC Commissioner Lisa Edgar. “Based on the evidence provided, this purchase will result in significant savings for customers.”
FPL estimates the move will save customers between $100 million and $151 million, and reduce Florida’s carbon emissions by 657,000 tons per year.
FPL’s power purchase agreement with Calypso Energy Holdings LLC was approved in 1991.