1. The Commission’s Regulatory Role Chairman Matthew M. Carter II State of Florida Public Service Commission Nuclear Power Plants

2. 2 Overview Florida’s statutes on nuclear power plants Commission’s implementing rules Cost recovery process State of Florida Public Service Commission

3. 3 Legislature’s promotion of investment in nuclear power—Chapter 403.519 Lists petition requirements Establishes time limits for consideration Specifies criteria for need determination Waives Bid Rule requirement Provides early cost recovery State of Florida Public Service Commission

4. 4 Commission Rules implement statutes Adds petition requirements Expands nuclear cost recovery process Early recovery of site selection, pre-construction and construction costs On-going auditing and monitoring Assess long-term feasibility of completing project Provides continuing cost-effectiveness review State of Florida Public Service Commission

5. 5 Nuclear cost recovery process Last year’s true-up filing This year’s to-date actuals and year-end estimates filing Next year’s projected costs filing

6. 6 Nuclear cost recovery process (cont’d) New section formed to review cost recovery filings for nuclear plants Cost recovery process timeline JanFebMarAprMayJunJulAugSepOctNovDec True-up Filing Estimate Filing Staff Rec HearingAgenda Fuel, capacity, environmental, and conservation cost recovery hearing Discovery and Staff review State of Florida Public Service Commission

7. 7 Nuclear cost recovery process (cont’d) ProjectCompany Cost Recovery Request St. Lucie & Turkey Point Uprates FPL$20.5M Turkey Point 6 & 7FPL$238.5M Crystal River 3 Uprate PEF$24.9M Levy 1 & 2PEF$18.1M

8. 8 Thank You! State of Florida Public Service Commission Chairman Matthew M. Carter II