Florida PSC approves deferral of FPL’s nuclear cost recovery

The Florida Public Service Commission (PSC) today approved Florida Power & Light Company’s (FPL) request to defer consideration of issues and recovery of nuclear plant project costs.  FPL customers’ bills, therefore, will not include a nuclear cost recovery charge in 2017.

Without the charge, FPL customers using 1,000 kilowatt hours a month will see a $.34 reduction on their monthly bill beginning in January 2017. The PSC is expected to review FPL’s deferred nuclear cost recovery issues—including a prudence review of costs—next year during the Commission’s 2017 Nuclear Cost Recovery Clause (NCRC) hearing.

Under Florida law, utilities may recover certain costs associated with investments in nuclear power plants while the plants are being licensed and constructed. The PSC conducts a hearing to evaluate these costs annually and approves amounts to be recovered through the fuel and capacity cost recovery charge on customers’ bills. 

The PSC’s 2016 NCRC hearing is scheduled to begin August 10.