Description
In 2019, the Florida Legislature passed Senate Bill 796 to enact Section 366.96(10), Florida Statutes (F.S.), entitled "Storm Protection Plan Cost Recovery." Section 366.96, F.S., requires each investor-owned electric utility (IOU) to file a transmission and distribution storm protection plan (SPP) that covers the immediate 10-year planning period. The plans are required to be filed with the Commission every three years and must explain the systematic approach the utility will follow to achieve the objectives of reducing restoration costs and outage times associated with extreme weather events and enhancing reliability. Pursuant to Section 366.96(7), F.S., the Commission shall conduct an annual proceeding to determine the utility's prudently incurred SPP costs. In addition, Section 366.96(10), F.S., requires that the Commission submit an annual report to the Governor, President of the Senate, and Speaker of the House, on the status of the utilities' storm protection activities and costs which is the purpose of this report. The Commission's rules implementing this new statute became effective on February 18, 2020.
