The Florida Public Service Commission (PSC) today approved cost recovery for the fourth phase of Tampa Electric Company’s (TECO) solar construction plans, covering a single solar project, totaling 60.1 megawatts (MW).
“TECO’s expanded use of solar power benefits its customers now and also protects Florida’s future fuel supply and environment,” PSC Chairman Gary Clark. “This fourth solar project phase brings TECO’s solar generation total to 600 megawatts, boosting Florida’s renewable energy portfolio.”
Located in Polk County, the Durrance project is expected to be in service on or before January 1, 2021. While the Durrance project will be constructed to a total capacity of 60.1 MW, TECO only petitioned for cost recovery of 45.7 MW through the Solar Base Rate Adjustment mechanism. Recovery of the remaining 14.4 MW may be addressed in a future docket.
The additional revenue requirement for the project is $7.5 million, which is below the cap approved in TECO’s 2017 settlement agreement. This translates to a $0.44 monthly residential bill increase, beginning in January 2021, for a customer using 1,000 kWh.
TECO’s first phase solar projects, Payne Creek and Balm—totaling 145 MW—were approved by the PSC in June 2018. TECO’s second phase solar projects, Lithia, Grange Hall, Peace Creek, Bonnie Mine, and Lake Hancock—totaling 260 MW—were approved in December 2018. TECO’s third phase solar projects, Wimauma Solar and Little Manatee River Solar—both totaling 150 MW—were approved in November 2019.
TECO’s PSC-approved 2017 settlement agreement froze its base rates until January 1, 2022, but allowed the company to recover the costs of added solar generation up to 600 MW.
TECO serves about 765,000 customers in Hillsborough, Polk, Pinellas, and Pasco counties.
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