Florida regulators OK a $5 million settlement with FPL over nuclear outages

©2024 The News Service of Florida

State regulators Tuesday approved a settlement that will lead to Florida Power & Light providing a $5 million credit to customers in a case involving what are known as “replacement” power costs because of outages at nuclear plants.

The Florida Public Service Commission signed off on the settlement reached by FPL and the state Office of Public Counsel, which represents consumers in utility issues.

It stems from unplanned outages from 2020 to 2022 at FPL’s Turkey Point and St. Lucie nuclear plants.

In addition to providing a $5 million credit, Public Counsel Walt Trierweiler said the settlement will benefit customers because of improvements to the performance of nuclear plants.

“The outcome is a win-win for the customers and the utility,” he said.