Florida’s investor-owned power companies fell flat in a new report that ranked utilities around the country on their plans for renewable energy, including the two that service most of the Tampa Bay area.
The Sierra Club graded power companies based on what sources the companies expect to generate their power from by the year 2030. Plans for renewable energy, such as solar power, increased the scores, while coal and natural gas (particularly new coal and natural gas) decreased the scores.
“We find that, apart from a few leaders, these companies are falling short on all three of these necessary actions,” the report said, referring to retiring goal, stopping investments in new gas plants and replacing both with renewable energy.
Duke Energy Florida and Florida Power & Light, the state’s two largest investor-owned power companies, received an “F” grade, scoring ZERO POINTS. Duke Energy is expected to build 720 megawatts of new natural gas power by 2030.
Duke recently asked permission from regulators to retire two of its coal generators eight years early.
Yet Another “F” Rating
The only investor-owned Florida power company that was not in the “F” category was Tampa Electric Co.
Tampa Electric has 1,624 megawatts of new natural gas capacity planned over the next decade, the sixth-highest amount of any company ranked. While it originally scored nine out of a possible 100, the Sierra Club re-ranked it to factor in its recently announced retirement of coal-powered Unit 3 at Big Bend Power Station, bringing its score up to 22 — a “D” grade.
The highest scores in the report went to the Public Service Company of Oklahoma (87 points, “A”), Northern Indiana Public Service Company (82 points, “A”) and Minnesota’s Great River Energy (75 points, “A”).
Florida has historically lagged when it comes to renewable energy. According to the Solar Energy Industries Association, just 3% of its energy comes from solar power.
Tampa Electric, Duke Energy and Florida Power & Light are currently undertaking large-scale solar projects. Each will boost the companies’ energy mix to less than 15% solar power. Most of the power will continue to come from natural gas.
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