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Public Service Commission


NEWS RELEASE


11/30/2010 Contact: 850-413-6482

PSC Approves PEF Replacement Power Costs


TALLAHASSEE — Florida’s Public Service Commission (PSC) voted today to permit Progress Energy Florida, Inc. (PEF) to recover replacement power costs associated with an unplanned outage at its Crystal River Nuclear Unit 3 (CR3) in Citrus County.  Replacement power costs will be included in the fuel charge on customer bills.

PEF’s outage at CR3 began in mid-December 2009, after a crack was found in the facility's containment wall.  As a result, PEF incurred replacement power costs and petitioned to recover all costs not covered by the Nuclear Electric Insurance Limited (NEIL) policy in its projected 2011 fuel charges.

With the Commission’s approval today, PEF will be allowed to collect, subject to refund, replacement power costs prior to the prudence determination of the costs.  The Commission will review the prudence of the expenditures in a separate docket at a later date.  PEF expects CR3 to return to service early next year.

New fuel and capacity charges will begin with the first billing cycle for January 2011.  PEF's customer bill of $126.90 will decrease to $119.34, a reduction of $7.56 for PEF’s residential customer using 1,000 kilowatt hours (kWh).

Updated Fuel Factors

Today, Commissioners voted to keep PEF’s fuel factors approved at the annual fuel hearing earlier this month.  PEF was reforecasting its estimated fuel expenditures at the time of the fuel hearing, so the Commission set preliminary fuel cost recovery factors and ordered PEF to file a petition to update its projected cost for fuel.

While the updated fuel factors appear to be more current and comprehensive than the previously approved fuel factors, the Commission found that the difference between the two sets was not significant enough to warrant an adjustment.

For additional information, visit www.floridapsc.com.



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