Dive Summary:
- Four Republican state senators from Florida are seeking changes in a law that allows utilities to charge their customers for construction costs or upgrades even though the facility might not even be in service.
- Sen. John Legg is proposing a bill that would set a deadline for construction to begin on new plants; the bill would also eliminate the profit utilities could make on customers should the plant never be built.
- The original nuclear exception was designed to encourage the construction of more nuclear plants, which are traditionally riskier and more expensive to build.
From the article:
Latvala, though, said "times have changed." He noted gas prices have fallen since 2006 along with the need for new generating capacity because Florida's population growth has slowed due to hard economic times.
The senators' proposal also drew criticism from Florida Power & Light Co. The state's largest electric utility, FPL serves 4.6 million homes, businesses and other customers in South Florida and on the state's east coast.
The Juno Beach-based company issued a statement opposing any changes to the current law, contending it'll save consumers billions in the long run on fuel costs while creating thousands of jobs and helping Florida's economy. ...