Florida Power & Light Company Says PSC Decision on Nuclear Power Units Represents Positive Step ...

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March 18, 2008 12:42 PM Eastern Daylight Time

Florida Power & Light Company Says PSC Decision on Nuclear Power Units Represents Positive Step toward Securing Clean Energy Future in State

JUNO BEACH, Fla.--(BUSINESS WIRE)--The Florida Public Service Commission (PSC) took a positive step toward securing the state’s clean energy future with its approval today of plans to build two nuclear power units at Florida Power & Light Company’s Turkey Point (NYSE:FPL) generating complex in Miami-Dade County, FPL President Armando Olivera said.

The PSC approved the additional nuclear plants and specifically agreed that FPL should proceed with making “reservation payments” on a key piece of equipment with long advance ordering requirements.

“This is a critical first step toward securing Florida’s future with additional energy that is safe, reliable, cost-efficient and clean. Additional nuclear generation will help us achieve Gov. Crist’s goal of reducing the carbon emissions that scientists have determined contribute to climate change, and will protect customers from supply disruptions and unpredictable prices that can result from being too dependent on a single fuel source,” Olivera said.

FPL is pursuing the option of constructing two advanced-design nuclear plants at Turkey Point that would add between 2,200 and 3,000 megawatts. If built, the units are expected to go into service in the years 2018 and 2020. FPL has safely operated two existing nuclear plants at Turkey Point for 35 years.

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