Florida Power & Light on Monday moved to purchase a coal-fired power plant in Indiantown, Fla., that it in turn intends to phase out. “While many years ago it made sense to buy this plant’s power to serve our customers, we’re now able to purchase the facility and phase it out of service, preventing potentially harmful carbon emissions while saving our customers millions of dollars,” Eric Silagy, FPL president and CEO, said in a press release. According to the report, the proposal would save FPL customers roughly $129 million and prevent more than 657,000 tons of CO2 emissions annually.
If the utility’s petition to the Florida Public Service Commission to approve the purchase is accepted, the company will immediately decrease operations of plant, which is currently owned by Calypso Energy Holdings, before eventually phasing it out entirely. The plant is expected to be shut down by the end of 2018FPL has proposed to purchase the ownership interest in the facility for $451 million, including existing debt, which would make it the owner. The company has requested the sale be approved by the end of the year.
