Remember, Georgia,
Georgia Power can continue to charge you for
Plant Vogtle 3 and 4 even after they’re canceled,
just like Duke is doing for Levy County in Florida.
Beware: Duke’s idea of a replacement is
a natural gas plant powered by a 36″ pipeline on a 100′ right of way
gashed through Alabama, Georgia, and Florida.
And while Duke customers will get refunds for permanently-closed Crystal River 3,
FL PSC also slid in a new tax:
“promotes community growth through economic development tariffs.”
A tariff is, according to Investopedia:
A tax imposed on imported goods and services. Tariffs are used to
restrict trade, as they increase the price of imported goods and
services, making them more expensive to consumers. They are one of
several tools available to shape trade policy.
Curious how FL PSC redefines restraints on trade as promoting growth.
FL PSC PR of 17 October 2013,
PSC Decides Revised Settlement Agreement for Duke Energy Florida, Inc.,
TALLAHASSEE — In a four to one vote, Florida’s Public Service
Commission (PSC) today approved a Revised and Restated Settlement
Agreement (Agreement) for Duke Energy Florida, Inc. (DEF) that
maintains customer base rates through 2018, terminates plans for
DEF’s Levy County nuclear units 1 & 2, and promotes community growth
through economic development tariffs.“This Agreement benefits both residential and business
customers and will help grow the local economy,” said PSC
Chairman Ronald A. Brisà . “I am pleased that Florida’s Public
Counsel, White Springs Agriculture Chemicals, Inc., Florida
Industrial Power Users Group, Florida Retail Federation, and DEF
agreed on difficult issues that provide long-term stability in the
public’s interest.”Commissioner Eduardo E. Balbis, who voted against the decision,
stated, “We have another viable option that is already in
place. Additionally, there are several critical unanswered questions
that warrant additional review.”
While the revised Agreement supersedes DEF’s current agreement,
approved last year, customer refunds contained in the 2012 agreement
remain, including $129 million this year, $139 million in 2014, $50
million in 2015, and $70 million in 2016. Customers will also
receive a total refund of $835 million from insurance proceeds for
DEF’s retired Crystal River 3 (CR3) nuclear plant by the end of
2014.When an asset (such as a plant) is retired, the company has a right,
by law, to recover the remaining costs from its customers. Under the
revised Agreement, recoverable costs for CR3 will be capped at $1.4
billion, with the company’s stockholders covering the first $295
million and long repayment schedules also lowering costs to
customers. DEF will continue to collect fixed amounts, with no
incremental bill impact, for costs associated with its discontinued
Levy plant until approximately 2017.Since 2010, the PSC has opened several separate dockets to
continually analyze and review the company’s actions; PSC staff has
reviewed hundreds of thousands of pages of filings, from DEF, its
contractors, and other parties; conducted numerous, extensive
depositions; requested answers to hundreds of discovery questions;
and Commissioners have presided over eight hearings and status
conferences, where the company and expert witnesses provided
testimony and evidence. Hundreds of customers have also provided
comments that are included in each docket’s file, and as part of the
Commission’s transparent processes, all filings and transcripts of
Commission proceedings are available to the public on the PSC’s
website, www.FloridaPSC.com.Parties to the revised Agreement, filed with the Commission on
August 1, include DEF, the Office of Public Counsel, White Springs
Agriculture Chemicals, Inc., Florida Industrial Power Users Group,
and Florida Retail Federation.For additional information, visit www.floridapsc.com.
Follow the PSC on Twitter, @floridapsc.
-jsq