FMEA News Feed

FPL Delays Plan to Recoup Irma Costs

After saying in October it expected to collect an estimated $1.3 billion, Florida Power & Light has put on hold a plan to bill customers for the costs of restoring electricity after Hurricane Irma.

FPL had been expected to file a petition last week with the Florida Public Service Commission and begin recouping the money from customers in March. But FPL spokesman Dave McDermitt said Wednesday the company has not moved forward with the plan, primarily because it is studying implications of a federal tax overhaul approved last month by Congress and signed by President Donald Trump.
Continue reading

FMPA Begins Providing Wholesale Power to Bartow, Florida

The City of Bartow is now receiving cheaper wholesale power under new power purchase agreements with the Florida Municipal Power Agency (FMPA) and the Orlando Utilities Commission (OUC). The contracts, which were effective Jan. 1, were approved by Bartow’s City Commission last August.

“FMPA is honored to have the opportunity to deliver low-cost, reliable power to the city of Bartow,” said FMPA General Manager and CEO Jacob Williams. “This partnership is a win-win situation that will save money for the city and its residents.”

Continue reading

Regulators to Look at Need for Two Power Plants

State regulators will hear arguments in March on proposals for two new power plants in Putnam and Pasco counties that would supply electricity to customers of electric cooperatives throughout Florida.

Filings last week with the state Public Service Commission show a two-pronged strategy by Seminole Electric Cooperative, Inc., to help meet future power needs. Seminole, which provides wholesale power to cooperatives throughout the state, wants to build a 1,050-megawatt plant at its already-existing site in Putnam County and contract for electricity generated at a 573-megawatt plant in Pasco County that would be owned by a subsidiary of General Electric Co.

Continue reading

Tampa Electric Customers Face Storm Charges

Pointing to Hurricane Irma and other recent storms, Tampa Electric Company on Thursday filed a proposal to collect about $87.4 million from customers starting in March.

The money would go to covering storm damage and replenishing a reserve, with the largest chunk — nearly $77.7 million — stemming from this year’s Hurricane Irma, according to the filing with the Florida Public Service Commission.

Continue reading

Duke Seeks to Collect $513 Million in Storm Costs

Duke Energy Florida asked state regulators Thursday to approve a proposal to collect $513 million from customers to cover the costs of Hurricane Irma and replenishing a storm reserve.

Duke plans to recover the money over a three-year period, starting in March, according to a news release and a filing with the Florida Public Service Commission. A residential customer who uses 1,000 kilowatt hours of electricity a month would see a monthly bill increase of $5.20.

Continue reading

Congressional Agreement Keeps Tax Exemption for Municipal Bonds

House and Senate Conferees on the Tax Cuts and Jobs Act (H.R. 1) have reached an agreement that would retain the current-law tax exemption for municipal bonds, but prohibit the issuance of tax-exempt advance refunding bonds and tax credit bonds after Dec. 31, 2017.

The ability to currently refund outstanding debt would not be affected.

Continue reading

State to Weigh New Northeast Florida Power Plant

With the utility industry continuing toward increased use of natural gas to fuel power plants, an electric cooperative has started seeking a key state approval to build a new plant in Northeast Florida.

Seminole Electric Cooperative, Inc., filed a proposal last week with the state Department of Environmental Protection to build a 1,050-megawatt natural-gas plant north of Palatka in Putnam County, according to documents posted on the state Division of Administrative Hearings website. The plant would replace one of two 650-megawatt coal-fired plants operating at the site.

Continue reading