Florida’s Public Service Commission (PSC) today approved a contract between Progress Energy Florida (Progress) and BG&E Florida (BG&E) for the purchase of firm capacity and energy.
The new renewable energy facility will produce electricity using waste wood products such as yard trimmings, and tree bark and wood knots from paper mills, as fuel. The plant is expected to avoid the need to burn nearly five million tons of coal over the 20-year life of the contract. BG&E will install and operate the electric generating plant in north Florida.
BG&E will sell 75 megawatts of capacity and energy from the facility to Progress for a term beginning June 1, 2011, through May 31, 2031. The facility is expected to generate enough electricity to power approximately 46,000 homes.
“This renewable energy project helps create a diverse, efficient, and affordable energy supply, which is vital for Florida’s economy and quality of life,” said PSC Chairman Matthew M. Carter II. “Promoting the growth of renewable energy will create greater energy and economic security for Florida.”
The PSC is committed to making sure that Florida's consumers receive their electric, natural gas, telephone, water, and wastewater services in a safe, affordable, and reliable manner. The PSC exercises regulatory authority over utilities in the areas of rate base/economic regulation; competitive market oversight; and monitors safety, reliability, and service.
For additional information, visit www.floridapsc.com.