Duke Energy Florida to Invest in Grid Modernization, EV Charging Stations
January 15 2021 - 3:20PM
Dow Jones News
By Michael Dabaie
Duke Energy Florida reached an agreement with consumer
representatives and business groups that would include investments
in grid modernization and electric-vehicle charging stations.
The agreement--subject to approval by the Florida Public Service
Commission--includes investments to modernize the electric grid and
improve reliability, offers new electric-vehicle charging-station
programs, and supports pilot programs for technology such as
microgrids and floating solar pilot projects.
Also included is accelerated retirement dates for DEF's last two
coal units eight years ahead of schedule, to 2034 from 2042, Duke
said.
The agreement would take effect in January 2022 and would
include base rate investments of about $5 billion over the next
three years.
If approved, DEF's base rates would increase by $67.2 million in
2022, and by another $48.9 million in 2023 and another $79.2
million in 2024, for a cumulative rate increase of $195.4
million.
Duke Energy Florida's average residential customers would see a
bill increase of 3% to 4% in 2022. Nonresidential customer bill
increases would vary based on consumption patterns, but most would
see increases of 1% to 6.5% in 2022. All customer classes would see
an annual bill increase of approximately 1% to 2% in 2023 and
2024.
The agreement was developed with customer representatives of
several consumer groups, including the state's Office of Public
Counsel, the Florida Industrial Power Users Group, Nucor Steel
Florida Inc. and White Springs Agricultural Chemicals Inc.
"This agreement provides a path to minimize bill increases while
continuing to make smart investments that will offer customers
greater reliability, cleaner energy alternatives and innovative
technology," said Catherine Stempien, Duke Energy Florida state
president.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
January 15, 2021 15:05 ET (20:05 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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