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Risk Assessment of Florida Power and Light and NextEra Energy Clean Energy Transition Plans

Client: Environmental Defense Fund

Authors: Tanya Stasio, Joshua Castigliego, Chirag Lala, and Liz Stanton, PhD

May 2022

On behalf of the Environmental Defense Fund, Researchers Tanya Stasio, Joshua Castigliego, Chirag Lala, and Director and Senior Economist Liz Stanton, PhD make recommendations for Florida Power and Light (FPL) to assist the utility in embracing the clean energy transition and reduce risks to ratepayers and its parent company, NextEra Energy's, shareholders.

Utilities across the United States are pursuing net-zero emissions targets while NextEra, the only large utility parent company that lacks an absolute carbon reduction goal, aims to reduce carbon intensity by 67 percent of 2005 levels by 2025. Moreover, FPL’s plans for the future are not aligned with NextEra’s emission rate reduction target. Based on AEC's assessment of FPL/NextEra’s transition plans and a review of electric utility climate plans, AEC offers seven recommendations for a new transition plan:

1. Coordinate NextEra and FPL transition plans

2. Establish short-, medium-, and long-term emission reduction targets, including a net zero target

3. Ramp up demand-side management efforts

4. Invest in energy storage technologies

5. Modernize the electric grid and increase renewable energy capacity

6. Consider multiple scenarios in future planning and reduce planning time horizon

7. Increase stakeholder and community engagement and continue to align plan with TCFD recommendations

Link to Report (updated May 16, 2022)

Link to Executive Summary

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tags: Joshua-Castigliego, Tanya-Stasio, Liz-Stanton, Chirag-Lala
categories: Florida, Utilities
Wednesday 05.04.22
Posted by Liz Stanton
 

Testimony Regarding Natural Gas Price Hedging in Florida

StockSnap_7RBA29CL51.jpg

Client: Sierra Club

Author: Liz Stanton, PhD

August 2017

On behalf of Sierra Club, Clinic Director and Senior Economist Liz Stanton, PhD submitted testimony in Docket No. 20170057-EI. Dr. Stanton provided an expert opinion that the dramatic increase in natural gas investments have exposed Florida customers to price volatility and that greater investments in renewable energy and energy efficiency would have yielded extensive customer savings. She concluded that the exclusive use of financial hedges to control customer exposure to natural gas price volatility is not in the best interest of Florida consumers and that Florida utilities should instead evaluate and pursue generation diversity, especially through added solar and energy efficiency.

Link to Southeast Energy News Article Citing Stanton Testimony

Link to Stanton Testimony

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tags: Liz-Stanton
categories: Florida, Price Hedging, Gas Plants
Thursday 08.10.17
Posted by Liz Stanton