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FP&L, Progress Energy Get Nuclear Recovery

October 16th, 2009 by Mike Vasilinda

The majority of Floridas utility customers will be paying more in coming months. The Public Service Commission in Tallahassee voted 3 to 1 today to allow Florida Power and Light and Progress Energy to collect part of the cost of constructing new nuclear plants from customers. FPL Spokesman Mayco Villafana says collecting now will reduce costs later.

“We have got to look at this long-term, Villafana said. We can’t look just at what is occurring right now in the marketplace and say that just because the situation right now is recessionary, that we shouldn’t plan for the future. The state plans for schools, roads, and other things. We have to plan ahead in the same fashion.”

PSC Commissioner Nancy Argenziano was the lone vote against the early cost recovery.

“It’s a horrible, horrible economic time, Argenziano said. Everybody knows that. The company knows that; their employees know it. We know it. It made this decision even harder because I’m not anti-nuclear.”

The final approved amount for customer bills will be determined after the PSCs decision in the annual fuel cost recovery clause hearing beginning November 2.
Both companies are also seeking rate hikes for the basic cost of electricity.

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