The Florida Public Service Commission (PSC) on Wednesday unanimously approved Florida Power & Light Co.’s (FP&L) proposed Turkey Point power plant expansion plan as the best, most cost-effective project to meet customer needs for electricity beginning in 2007.

The unit was selected after being compared to more than 40 options, both FP&L self-build alternatives and options from independent power producers gathered through a competitive capacity solicitation and an FPL assessment of the market. Numerous combinations were analyzed and FPL’s Turkey Point unit was the most cost-effective option by at least $271 million over the life of the unit, according to the utility. This was confirmed by an independent evaluator, FP&L said.

The proposed Turkey Point project is a state-of-the-art, natural gas-fired combined-cycle generating unit capable of delivering approximately 1,100 MW of power capable of serving the equivalent of approximately 230,000 homes and businesses. The project is expected to cost nearly $600 million.

“We are pleased that the PSC, after thoroughly reviewing the testimony and data provided over the past several months, affirmed that building the Turkey Point project offers the best, most cost-effective and reliable option for our customers,” said Armando Olivera, FP&L president. “FP&L’s proposed Turkey Point unit will use a proven technology that will result in a very efficient, highly available and therefore low-cost source of electricity readily available to serve the increasing needs of our customers in South Florida.”

The PSC’s decision, along with project recommendations from other state agencies, including the Department of Environmental Protection, are all needed to complete Florida’s comprehensive power plant site certification process. The state process includes a hearing by an administrative law judge scheduled for Sept. 7-10, followed by review and a final decision on the project from the governor and Cabinet. That review is expected to take place early next year. Additional approvals also are needed from several federal agencies.

©Copyright 2004 Intelligence Press Inc. Allrights reserved. The preceding news report may not be republishedor redistributed, in whole or in part, in any form, without priorwritten consent of Intelligence Press, Inc.