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Florida’s sorry story of ratepayers stung by upfront nuclear construction costs

Reply to Amy Baird posted here:

Yes, who would ever guess that any BIG Utility/Corp. like FP&L who I’m sure pledges using many fancy words, that it puts the health, safety and well being of all their ratepayers FIRST, would even consider making any changes that are not in their ratepayers best interests?

I’m specifically speaking about any changes specifically designed to increase their own profitability, which would violate the sacred trust that exists between themselves and the ratepayers they serve.

FP&L’s Top Management would never allow this to happen because if it did, it would mean that FP&L is in reality, putting their shareholders welfare far ahead of their ratepayers, and we all know they would never want to be caught doing that…



text-my-money-2Nuclear power project financing option sticks ratepayers with tab, Indy Star  By John Russell, February 1, 2014   “……..the Florida legislature passed a CWIP bill, allowing utilities to charge ratepayers up front for construction costs of nuclear power plants. Supporters said it was a way to get nuclear plants built faster and cheaper. Opponents called the bill “crony capitalism,” saying it would shift the risk of start-up costs onto ratepayers in the form of higher utility bills, while utility investors would reap the profits.

Two years later, the new Florida law got a taker. Progress Energy filed an application to build a nuclear plant in central Florida, estimating it would cost $5 billion. But over the next few years, the price tag climbed to more than $20 billion, due to delays and larger-than-expected costs.Then things got complicated. In 2010, Florida utility regulators rejected Progress’s request for $368 million in…

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March 24, 2014 - Posted by | Uncategorized

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