Florida Utilities to Invest Billions in Grid Hardening
Florida’s investor-owned electric utilities proposed plans for nearly $19.4 billion spend on grid hardening activities to enhance storm protection. These plans are followed by a recently enacted state law to make more proactive investments towards storm damage and outages that the state commonly faces.
Duke Energy Florida LLC, Florida Power & Light Co., Gulf Power Co., and Tampa Electric Co. are the four major companies involved in this proposal. Irby has worked with each of these in the past and some are current clients. FPL’s VP of Distribution is quoted in the S&P Global Market Intelligence article.
“Florida remains the most hurricane-prone state in the nation and, with the significant coastline exposure of FPL’s system and the fact that the vast majority of FPL’s customers live within 20 miles of the coast, a robust storm protection plan is critical to maintaining and improving grid resiliency and storm restoration,” Michael Jarro said.
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