Juno Beach, FL–(HISPANIC PR WIRE – BUSINESS WIRE)–August 2, 2004—Combine summer-time Florida weather with nearly 100,000 new customers demanding electricity and you’ve got the makings of not just one but three all time peak records for electricity use already this summer on Florida Power & Light Company’s system.
On June 23 of this year customer use hit 20,250 megawatts, followed by 20,306 megawatts on July 6 and 20,545 megawatts on July 14. Last summer’s peak was 19,668 megawatts and when compared to this summer’s latest peak of 20,545 megawatts that is an increase in demand of 877 megawatts which is equal to the output of a very big power plant. The increase is the reason FPL expects to need to add the equivalent of one new power plant a year going forward.
FPL is also experiencing a growth in customers of more than 100,000 a year, the equivalent of adding a small city to its service area every year. Florida is the fastest growing state in the nation, and five of the 10 fastest growing counties in the state are in FPL’s service territory. Through a 10-year planning process and an investment of more than $4.3 billion in new power plants, power lines and substations over the last five years, FPL to date has been able to meet that customer growth while maintaining a 20 percent reserve margin.
Moving forward, however, will require an even larger investment in power plants and, just as important, it will require significant expansion of the infrastructure (such as transmission and distribution lines and substations) needed to deliver the electricity from the plants to our customers safely and reliably. That means more transmission lines and substations will need to be built, in some cases in already developed communities that are undergoing major revitalization.
To that end, FPL currently is expanding its generating capacity by 1,900 megawatts at its Martin and Manatee plant sites to meet customer needs beginning in 2005. In 2007, FPL also plans to expand its Turkey Point site south of Miami by adding a new 1,100 megawatt, state-of-the-art natural gas-fired power unit. FPL expects to spend approximately $6.4 billion for new power plants, existing power plant improvements and power line infrastructure to serve customers between 2004 and 2008.
With the typically hottest months of this summer still ahead, FPL said it anticipates no problems meeting customers’ electricity needs. FPL serves 4.2 million homes and businesses in Florida. It uses a combination of company-owned generation, firm power purchases and energy management programs to supply electricity and maintain a 20 percent reserve margin.
Florida Power & Light Company is the principal subsidiary of FPL Group, Inc. (NYSE:FPL), nationally known as a high quality, efficient and customer-driven organization focused on energy-related products and services. With annual revenues of more than $9 billion and a growing presence in 26 states, FPL Group is widely recognized as one of the country’s premier power companies. Florida Power & Light Company serves more than 4.2 million customer accounts in Florida. FPL Energy, LLC, FPL Group’s wholesale electricity generating subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at http://www.FPL.com, http://www.FPLGroup.com and http://www.FPLEnergy.com.
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Florida Power & Light Company, Juno Beach
Corporate Communications Dept.