FPL submits four-year rate proposal enabling 894MW of solar growth

Mar 16, 2021 02:31 PM ET
  • United States utility Florida Power & Light (FPL) has submitted a four-year rate plan that could see 894MW of solar PV systems contributed to the grid.
FPL submits four-year rate proposal enabling 894MW of solar growth
Image: FPL

FPL's proposal asks for a US$ 1.1 billion electrical power base-rate incomes raise in 2022 as well as US$ 607 million in 2023. It has additionally submitted an ask for a US$ 140 million base-rate boost in both 2024 and 2025 to support financial investment in new solar energy projects.

The rate hike, FPL stated, would certainly support "a much more resilient and lasting energy future for Florida despite climate modification as well as frequently extreme weather". It added that the mixed US$ 280 million expense of the Solar Base Rate Modification (SoBRA) would be "partially balanced out" by lowered fuel expenses on the condition section of customer bills.

The utility's four-year rate strategy sits alongside a pledge to set up 30 million photovoltaic panels in Florida by 2030, which it asserts would certainly make FPL the largest utility proprietor as well as driver of solar in the United States.

It is likewise developing what it claims will be the "world's largest" incorporated solar-powered battery energy storage space system. FPL initially exposed plans for the Manatee Energy Storage Center in March 2019, which it said would stand at 409MW capability, powered by an existing PV plant in Parrish, Manatee County, as well as be able to distribute 900MWh of electricity.

FPL is likewise in the process of finishing its culminative 1.49 GW community solar project, which the energy expects to produce about US$ 112 million in customer cost savings throughout its life time. The capability, spread out across five collections of 20 plants, is expected to be appointed by mid-2021.

The utility approximates that typical domestic consumers' expenses would climb 3.4% yearly from January 2021 to 2025, while commercial costs are anticipated to grow at an ordinary annual rate of about 3.9% to 4.4% during the very same period. In 2024 and 2025, the solar base rate adjustment would add approximately US$ 2 per month and US$ 1.50 monthly to household consumers' costs specifically.

Additionally, the proposition would certainly proceed FPL's merger with Northwest Florida utility Gulf Power, which includes establishing a new transmission line literally connecting both utility systems and also the capability to dispatch from a common fleet of power generation systems. Both energies have offered different rates in the past, so the proposition would certainly reduce this with a "transition cyclist" credit rating system that would call for energy consumers in the northwest of the state to pay more on their electrical power expenses than various other FPL customers. However, the company said that rates would certainly be completely lined up by January 2027. The Public Service Commission is anticipated to decide on the proposition by 12 November 2021.

Eric Silagy, president and chief executive of FPL, stated that "there is never ever a great time to request a rate rise and also we stay steadfastly committed to giving consumers exceptional worth while building an energy future they can depend on."

FPL, a subsidiary of NextEra Energy, is aiming to have around 10GW of solar ability on its system by 2030, as well as positioned more than 1.1 GW of solar in service in 2015. The parent firm itself has actually vowed to deploy as much as 14.4 GW of solar ability by 2024.

Solar Installers, Manufacturers