FPL closes Cedar Bay coal-fired power plant

FPL purchased the plant in 2015 with the intention of phasing it out of service in this time frame. Before the acquisition, FPL had been obligated to purchase power from the plant under a 1988 Power Purchase Agreement with the plant's previous owners. That agreement had become uneconomic because FPL generates far cleaner energy today at a much lower cost by investing heavily in modernising its system.

"Buying and shutting down old, inefficient coal plants is unprecedented in America," said Eric Silagy, President and CEO of FPL. "I'm very proud of our employees for proposing this innovative approach that's environmentally beneficial and saves customers millions of dollars."

The buyout and closure of the Cedar Bay plant is estimated to save FPL customers more than US$70 million. In addition, it will prevent nearly 1 million tpy of carbon emissions. This amount of carbon reduction is the EPA equivalent of saving more than 100 million gal. of gasoline or switching more than 23 million incandescent light bulbs to energy-efficient compact-fluorescent lights every year.

After the plant has been closed down, FPL will dismantle the facility, a process that is expected to take approximately two years. FPL is also in the process of purchasing and phasing out another coal-fired power plant, located in Indiantown, Florida. Similar to the Cedar Bay plan, this purchase is projected to save FPL customers an estimated US$129 million and prevent more than 657 000 tpy of carbon dioxide emissions. The Indiantown facility is expected to be shut down by the end of 2018.

Read the article online at: https://www.worldcoal.com/power/22122016/fpl-closes-cedar-bay-coal-fired-power-plant/