trending Market Intelligence /marketintelligence/en/news-insights/trending/jfn2axkslor6af-yntgyig2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Fla. regulators approve FPL purchase of Indiantown cogen plant

OTT Winners, Losers In The Age Of COVID-19

After Growing In 2019, Latam FTTP Market Might Slowdown In 2020 Due To COVID-19

COVID-19 Crisis: Legacy TV Universe Strategic Analysis

Another Outcome Of COVID-19: Olympics Postponed

Fla. regulators approve FPL purchase of Indiantown cogen plant

Florida regulators Oct. 3 approved 'srequest to purchase a 330-MW coal plant, with plans to retire it and exit acostly power contract.

In June, FPLannounced plans to purchase the Indiantown facility in Martin County, Fla., for$451 million, including debt, from subsidiaries of Upon takingownership of the plant, FPL intends to cut its operations and eventually retireit, a move the NextEra EnergyInc. subsidiary said will save customers between $100 million and$151 million over the next nine years. FPL is under contract to buy all ofIndiantown's output through 2025, and the utility said retiring it early willprevent more than 657,000 tons of CO2 emissions annually.

The Florida Public Service Commission had set aside two daysfor hearings on the plant acquisition, but approved the deal the morning of thefirst day. A partial stipulationfiled Sept. 20 between FPL, the Office of Public Counsel and theFlorida Industrial Power Users Group allowed for faster consideration. "Today, all parties agreed that a streamlined hearingprocess was in the best interest of FPL's customers," Commissioner LisaEdgar said in a news release. "Based on the evidence provided, thispurchase will result in significant savings for customers."

FPL followed a when itacquired the 250-MW CedarBay coal plant from TheCarlyle Group LLC for $520.5 million, with plans to eventuallyretire the asset and exit an expensive contract. (Florida Docket No. 160154)