UTILITY continued from 30
on the need to control carbon dioxide emissions that contribute to
climate change and we’ve taken environmental issues seriously for
many years.
Florida Power & Light, our regulated electric utility, has
steadily reduced the emissions rate from its fossil fuel plants over the
years and is on the forefront of developing new nuclear generating
capacity—which produces no greenhouse gas emissions—for
its 4. 5 million customers. FPL Energy, our competitive energy
subsidiary, is moving ahead with investments aimed at tripling its
nearly 4,500 MW wind generating capacity and earlier this year
announced plans to develop the first-ever plant to convert citrus
Parabolic trough at the Solar Electric Generating System (SEGS) in California’s Mojave Desert. FPL Energy is the largest generator of solar energy in the country through its operations there. Photo, FPL Group.
waste into ethanol. We’re also planning major investments in new
solar energy capacity at FPL and FPL Energy.
Of course, all utilities would be in a better position to make more
timely decisions if our federal government would pass greenhouse
gas legislation.
FPL Group leads U.S. utilities in wind and solar energy
production and in energy conservation programs.
What are your near-term plans for renewables?
FPL Group has some exciting plans in renewable
energy. In July, FPL Energy announced a $20 billion
investment program for adding between 8,000 and 10,000 MW of
wind power by the end of 2012. And at the Clinton Global Initiative
conference in New York City in September, FPL Group unveiled a
plan to invest $2.4 billion to increase solar thermal energy and reduce
carbon dioxide emissions. Of this total, as much as $1.5 billion is
planned for new solar thermal generating facilities in Florida and other states.
As part of this investment package, FPL Energy will launch a nationwide program designed to reduce carbon dioxide emissions and develop new sources of renewable energy. Residential and business customers will be able to purchase Renewable Energy Credits (RECs) backed by FPL Energy’s renewable energy production. This project, to be supported by a nationwide educational effort, is expected to generate revenues of $400 million during its first five years of operation. One hundred percent of these revenues will be used to develop new renewable energy capacity.
In Florida, FPL recently inaugurated the state’s largest photovoltaic solar facility and is developing a pilot wind power project on the Atlantic coast. It also is planning a 10-MW test project for solar thermal energy and is studying an expansion of its Florida solar thermal energy production to 300 MW.
FPL currently buys about one-third of all renewable energy capacity in Florida from producers of biomass and waste energy, and is seeking proposals for additional capacity.
Our governor, Charlie Crist, has proposed some far-sighted goals for developing new renewable energy sources and reducing greenhouse gas emissions. We support these initiatives and are ready to take the next steps, as long as we can do so without creating excessive costs for our customers.
Nuclear energy clearly represents an important share of our generating portfolio, and we expect it to play a much larger role, especially in Florida, where demand for electricity is growing vigorously. Nuclear power produces no greenhouse gases, and it’s an affordable, long-term source of energy for our customers. It also helps diversify FPL’s fuel mix, which is now skewed toward natural gas, and will reduce our dependence on fuels like natural gas and fuel oil, which experience price volatility.
Since 2002, FPL Energy has acquired three nuclear power plants, including the recent purchase of the Point Beach nuclear facility in Wisconsin. While FPL Energy has no plans to build a nuclear plant, Florida Power & Light has proposed a major expansion of its nuclear capacity through uprates of our four existing reactors in Florida and the addition of two new nuclear power plants. The uprates would add more than 400 MW to our nuclear facilities at Turkey Point and St. Lucie by 2012. FPL also is planning to add two new reactors, with up to 3,000 MW, to Turkey Point by 2020.
References:
Archives