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Duke Energy applies for $1.3B in bonds to cut Crystal River costs

in The Bay and the 'Burg/Top Headlines by
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Duke Energy is asking the Florida Public Service Commission for permission to issue $1.3 billion worth of a type of securitized bond, which will help reduce charges to consumers for shutting down the mothballed Crystal River nuclear plant. John Downey of the Charlotte Business Journal reports the request is for a new bond approved by state lawmakers in 2015 for reducing Crystal River costs. The move could save Duke’s Florida customers about $790 million over the next two decades. The…

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Duke Energy to donate more than $265,000 in STEM grants to Pinellas schools

in The Bay and the 'Burg/Top Headlines by

Duke Energy is doling out $1 million across the state of Florida for programs furthering science, technology, engineering and math learning. A good chunk of the money is coming to Pinellas County. According to the Tampa Bay Business Journal, $267,222 is being allocated to the Pinellas County Education Foundation. That group organized in 1986 to help support Pinellas County public school teachers and students. The group has raised more than $10 million since its inception. It’s a coalition of business…

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Rick Scott signs bill making modest reforms to Public Service Commission and public utilities

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Florida Gov. Rick Scott signed into law Wednesday HB 7109, a bill that makes modest reforms at the state Public Service Commission. The law limits future Public Service Commission members to three consecutive four-year terms and require commissioners to undergo annual ethics training. The bill was weakened when the House refused to accept a Senate amendment that would require the PSC to hold customer service meetings every other year in the service area of the utilities they regulate. It also requires that specified commission…

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Florida public utilities boast about their solar output at energy conference in St. Petersburg

in Statewide/Top Headlines by

Advocates for Floridians for Solar Choice say the central premise behind their attempt to have Floridians vote on a constitutional amendment is to make it cheaper for residents to buy solar power directly from a provider. The group says that the free market doesn’t work in Florida when it comes to renewable energy choices. There are 55 public utilities in the state, but current state law allows only the investor-owned utilities to do so. But those same critics say that power companies like Duke…

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‘Sunshine State’ or not, Florida badly behind on solar power

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17Residents of the Sunshine State are finding that harnessing Florida’s abundant solar power is no simple task. With its bounty of sunny days, Florida ranks third in the nation in rooftop solar energy potential but 13th in the amount of solar energy generated, according to industry estimates. The industry views Florida as a sleeping giant that could rival California in solar potential, but renewable energy experts say the state lags behind because old laws favor utilities over private enterprise. “The…

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Pausing from Duke criticism for a moment to celebrate free stuff they just gave me

in The Bay and the 'Burg/Top Headlines by

There’s a lot of hating on Duke Energy going on in Florida. That’s because the energy giant continues to put ratepayers on the hook for two nuclear projects that will never happen. Considering that amount is to the tune of $3.2 billion, it’s safe to say Duke is an easy target for critics. But here’s the deal: they just gave me a crap ton of free stuff. So, for at least a bit, I’m pretty happy with Duke Energy. Duke…

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Duke Energy buys stake in proposed natural gas pipeline

in Apolitical/Top Headlines by

Electric utility giant Duke Energy has purchased ownership stake in the proposed Sabal Trail natural gas pipeline. In a statement released Tuesday, Duke Energy announced it will invest about $225 million in the approximately 500-mile pipeline. The $3 billion pipeline will run from Alabama, across Georgia, and into Florida. The pipeline is scheduled to begin service in 2017. It will require federal and other regulatory approvals, which Sabal Trail Transmission hopes to secure by early 2016. The pipeline drew protests…

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