Press Mention Sunshine State News April 11, 2012
SACE Referenced
Heat Builds Against Advance Cost Recovery Rule for Nuclear Plants
In this mention
Opponents of Florida's advance cost recovery rule for nuclear plants announced support for a legal challenge by the Southern Alliance for Clean Energy to the statute's constitutionality before the Florida Supreme Court. State Senator Mike Fasano and others argue the law unfairly shifts construction risk to ratepayers rather than utility shareholders. Multiple municipalities have passed resolutions opposing the prepayment requirement for proposed nuclear plants.
Full transcript
Heat Builds Against Advance Cost Recovery Rule for Nuclear Plants
By: Kenric Ward | Posted: April 12, 2012 5:22 PM
Opponents are turning up the heat on a Florida law that allows utilities to charge for costs of nuclear power plants that might never get built.
At a news conference Thursday, the opponents announced support for a legal challenge by the Southern Alliance for Clean Energy to the constitutionality of the prepayment statute before the Florida Supreme Court.
"I believe it is inherently unfair for utilities to shift the risk to their customers, our constituents, to front the costs of massive and expensive construction projects that are not even guaranteed to be completed," said Sen. Mike Fasano, R-New Port Richey.
"These dicey investments ought to be the responsibility of utility shareholders and their investment partners who profit from them, not the average ratepayer who is already struggling to pay their monthly utility bill or keep their business afloat."
Meantime, a growing number of local anti-nuclear cost recovery resolutions, which began with the Village of Pinecrest, near FPL's proposed new Turkey Point reactors, have spread to Yankeetown and Crestview in Progress Energy's service territory, where two new nuclear plants are planned for Levy County.
The utilities have retained two former Supreme Court justices to argue their case.