Florida Power & Light Company (FPL) filed a petition with the Florida Public Service Commission (PSC) for approval to shut down the St. Johns River Power Park(SJRPP) at the end of this year. SJRPP is a coal-fired power plant jointly owned by FPL and JEA, the municipally-owned electric provider for the City of Jacksonville.

The approximately 1,300-megawatt plant has served customers of the two utilities well for many years, but it is no longer economical to operate. The retirement of the plant is expected to save FPL customers $183 million as well as prevent more than 5.6 million tons of carbon dioxide emissions annually.

"While the St. Johns River Power Park has been an important part of both FPL's and JEA's power generation mix for decades, it's time to retire the plant," said Eric Silagy, president and CEO of FPL. "This proposal is another step forward in our ongoing strategy of making smart investments in affordable clean energy to better serve our customers now and in the future."

"Reducing greenhouse gas emissions is critical to addressing climate change," said Greg Knecht, deputy executive director of the Florida chapter of The Nature Conservancy. "Any time we can replace less efficient sources of energy with cleaner fuels or solar, it's a benefit for people and nature. Investments such as FPL's in clean energy technologies are key to Florida's future health and prosperity."

In 1981, the PSC approved a request by FPL and JEA to build SJRPP to provide affordable power generated by a source other than oil - the fuel for the majority of FPL's plants at that time. FPL owns 20 percent of the facility, with an additional long-term agreement between the two utilities that has resulted in the partners sharing the power output and operating expenses equally.

Located in Jacksonville, SJRPP is currently one of the highest-cost generating facilities to operate and maintain for both FPL's and JEA's systems. Advances in technology have made cleaner, more fuel-efficient power generation from natural gas and solar more cost-effective, and the addition of a third major natural gas pipeline into Florida will soon make it possible for the generation of clean, affordable power to serve Floridians' needs without SJRPP and two other coal plants that FPL is shutting down.

FPL has asked the PSC to review this request and make its decision by December 2017, so that SJRPP can be closed down at the end of the year and the projected customer benefits can be realized sooner.

"This is the third coal power plant FPL is phasing out in two years while we continue to invest in major advances in solar and natural gas energy centers. We are proving that it's possible to be clean and low-cost," said Silagy.

Over the last two years, FPL bought out existing contracts with two independently owned coal-fired power plants with the goal of shutting down both plants, saving hundreds of millions of dollars for customers as well as reducing greenhouse gas emissions. The first of these, the Cedar Bay plant in Jacksonville, ceased operations at the end of 2016. The second, the Indiantown Co-generation plant in Martin County, is on track to close by the end of 2019. FPL continues to look for additional opportunities to save customers money and generate cleaner energy.

Continuing to invest in high-efficiency natural gas technology
As the company continues to invest in cleaner, more fuel-efficient natural gas technology, FPL plans to retire its Lauderdale Plant in Dania Beach, Fla., the site of FPL's first power plant in 1927. The current plant was last updated nearly a quarter-century ago and continues to operate some components that date back to the 1950s.

FPL today also filed for approval of the first step in the comprehensive review and permitting process for its planned FPL Dania Beach Clean Energy Center, which would begin serving FPL customers by mid-2022 with approximately 1,200 megawatts of 24-7 capacity. The new facility is projected to generate approximately $400 million in net cost savings for FPL customers - over and above the cost of construction - during its operational life.

Importantly, the advanced efficiency of the new plant would generate more power using less fuel, reducing FPL's system-wide natural gas consumption.

"Our strategy of phasing out older power-generating units and investing in new, high-efficiency clean energy centers continues to save customers millions of dollars on fuel costs and reduce air emissions" added Silagy. "The modernization of our Dania Beach property - home to FPL power plants for nearly a century - will enable us to continue to meet South Florida's energy needs while reducing emissions and FPL's use of natural gas systemwide."

The company's investments in high-efficiency natural gas energy generation since 2001 have saved FPL customers more than $8.6 billion in fossil fuel costs and prevented 108 million tons of carbon dioxide emissions.

Continuing to advance clean energy sources
FPL already operates more solar than any other utility in Florida with 335 megawatts that includes six universal solar power plants. The company is moving forward with plans to add nearly 2,100 megawatts of new universal solar from 2017 through 2023. Based on the technology currently being installed, nearly 2,100 megawatts of new solar translates into approximately 9 million solar panels, which if placed end to end, would stretch from Miami to Sydney, Australia. FPL expects to build all of this proposed new universal solar capacity cost-effectively - meaning these investments will result in net savings for FPL customers.

The first eight new solar plants - approximately 600 megawatts combined - are on track to be completed less than a year from now. They are projected to generate estimated net lifetime savings of more than $39 millionfor FPL customers. The other approximately 1,500 megawatts of solar are anticipated for 2019 through 2023, and FPL has begun to develop plans and evaluate potential locations. FPL previously noted that an undeveloped, company-owned property in western Miami-Dade County had been identified as a promising future location for a universal solar facility. Sites in other areas of the state are under consideration as well, including a company-owned property outside of Lake City in Columbia County.

Thanks in large part to the company's affordable clean energy strategy, FPL continues to be one of the cleanest utilities in America, with a carbon dioxide emissions rate that is nearly 30 percent lower than the national average - while still providing best-in-class reliability and bills that are about 25 percent lower than the national average.

Florida Power & Light Company | www.fpl.com