Recognizing the role nuclear energy must serve if Florida is to meet its energy needs with a reliable power source that lowers greenhouse gas emissions, the state’s Public Service Commission has approved two new reactors at Florida Power & Light Co.’s (FPL) Turkey Point nuclear power plant.

“Trends indicate there will be a substantial need for more power in FPL’s service territory, and these new nuclear units can help meet that need,” said Matthew Carter, chairman of the commission.  “The nuclear units will provide a clean, non-carbon-emitting source of baseload power to meet Florida’s growing energy needs.”

FPL is pursuing the construction of two advanced nuclear plants at Turkey Point that would add between 2,200 and 3,000 megawatts of generating capacity, which would serve as many as 1 million homes.  The company expects the reactors to go into service between 2018 and 2020.

“This [approval] is a critical first step toward securing Florida’s future with additional energy that is safe, reliable, cost-efficient and clean,” FPL President Armando Olivera said.  “Additional nuclear generation will help us achieve Gov. [Charlie] Crist’s goal of reducing carbon emissions … and will protect customers from supply disruptions and unpredictable prices that can result from being too dependent on a single fuel source.”

The commission also agreed that FPL should proceed with making “reservation payments” on a key piece of reactor equipment with long advance ordering requirements so that the company will have the components it needs to build the plants when the time is right.

FPL, which serves 4.5 million customers, must increase its electrical generation capacity by one-third to meet projected growth in electricity demand between 2011 and 2020.  If constructed, Turkey Point 6 and 7 also would further diversify FPL’s fuel mix for electricity production, half of which is powered by natural gas.

Florida PSC Commissioner Katrina McMurrian noted that the cost of electricity is increasing nationwide and that the United States could take an important step in securing its future by looking at all electricity sources.  “Clearly, this state is in need of nuclear power—power that is cost-effective and reliable,” she said.

Over the long term, the company projects that operating expenses for nuclear plants will be much lower than expenses for fossil-fuel plants, despite higher initial investment costs.  For example, between January 2000 and July 2007, FPL’s existing reactors saved customers $8.7 billion in fuel costs compared to natural gas and oil.  FPL said that the two new reactors could achieve fuel savings of $1 billion for its customers.