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NextEra Energy Completes Purchase from Southern Company of Ownership Interests in Two Florida Power Plants

LCG, December 5, 2018--NextEra Energy announced yesterday that it completed the acquisition of Southern Company's indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida. The acquisition was previously announced in May of this year.

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Emera to Sell Three Combined-Cycle Power Plants in New England

LCG, November 29, 2018 --Emera Inc., headquartered in Halifax, Nova Scotia, announced this week that it has agreed to sell three natural gas-fired electric generating facilities that it owns in New England to the investment firm Carlyle Group for $590 million. The combined electric generating capacity of the three facilities is approximately 1,100 MW. The acquisition is expected to close in first quarter 2019.

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Industry News

NRC to Issue License to Construct Two New Reactors iat Turkey Point in Florida

LCG, April 11, 2018--The Nuclear Regulatory Commission (NRC) recently announced that it will issue licenses allowing Florida Power and Light (FPL) to proceed with construction and operation of two AP1000 reactors at the Turkey Point nuclear generating station. The Turkey Point power generation complex is located in southern Miami-Dade and currently includes two zero-emissions nuclear generating units (Units 3 and 4) and one high-efficiency natural gas unit (Unit 5).

FPL submitted the application on June 30, 2009, and the NRC certified the 1,100-MW AP1000 design in 2011. The federal regulator granted permission for the agency's Office of New Reactors to issue the licenses after conducting a hearing in December 2017. The Commission found the staff's review of FPL's application adequate to make the necessary regulatory safety and environmental findings.

FPL has indicated that it wants to maintain the option to build new nuclear electric generating capacity; however, it has no immediate plans to proceed with construction of the new units (Unit 6 and 7).

Earlier this year in February, FPL announced plans to file with the NRC to renew and extend the operating licenses for Units 3 and 4. FPL's plan to pursue a second 20-year license renewal for each nuclear unit would be the first such application in the U.S. The license renewal would ultimately allow for an 80-year operating life for the units, which would operate until 2052 and 2053. FPL estimates that renewing the licenses would save FPL customers billions of dollars by avoiding the need for other more expensive power generation.
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