Tuesday, December 8, 2009

PSC approves renewable energy contracts for Progress Energy Florida

The Florida Public Service Commission has approved two renewable energy contracts for Progress Energy Florida that are expected to protect customers from annual fluctuations in fuel prices and hopefully save them some money. The contracts are with Florida Biomass Energy, LLC which will burn waste wood and specially grown vegetation to generate up to 60 megawatts of electricity in Manatee County. The new 20-year contract between FB Energy and Progress energy which takes effect in January 2013, is projected to save utility customers more than $34 million. A second company, Vision/FL, LLC will use sweet sorghum as its primary renewable fuel to generate up to 40 MW of electricity. The PSC approved modifications to the 25-year agreement between Progress Energy and Vision which take effect in January 2011 that should save utility customers more than $28 million.

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