Duke Energy Florida files to recover investment costs associated with new natural gas plant

Duke Energy Florida filed a request Monday with the Florida Public Service Commission (FPSC) to recover investment costs associated with a new natural gas plant to be located in Citrus County, Florida.

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The 1,640-megawatt combined-cycle, two-unit plant will use natural gas to provide energy to 1.8 million Florida customers in 35 counties.

Unit 1 and unit 2 are on track to begin serving customers in September and November, respectively.

If the FPSC approves the proposed changes, residential customers’ base rate would increase by $3.59 for unit 1, starting with the October billing period. Commercial and industrial customers would see a 2.5 to 3.5 percent increase.

For unit 2, residential customers’ base rate would increase by $2.25, starting with the December billing period. Commercial and industrial customers would see an increase of 1.5 to 2.1 percent.

Once the new plant is operating, Duke Energy Florida will retire its Crystal River coal-fired units 1 and 2, which were built in 1966 and 1969, respectively. The two units make up half of the company’s coal-fired power plants in Florida.

“Our customers expect and deserve cleaner energy, and building highly efficient natural gas infrastructure is critical to delivering on our commitment to a low-carbon energy future,” Harry Sideris, Duke Energy Florida president, said. “Natural gas is also an important part of our modernization strategy to continue delivering energy that is cleaner while meeting the growing energy needs of Floridians. More than ever, we are determined to make smarter energy investments that will benefit our customers and build the cleaner energy future we all want.”

Duke Energy Florida said that it also plans to invest in new solar power plants and battery storage technology over the next decade.

The post Duke Energy Florida files to recover investment costs associated with new natural gas plant appeared first on Daily Energy Insider.

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