SB 1102 Summary

• Establishes clean energy portfolio standards requiring electric utilities to supply 7% clean energy by 2015, 12% by 2018, 18% by 2021, and 20% by 2023, with penalties for non-compliance and exemptions for cost or supply constraints.

• Defines clean energy sources in three classes: Class I (wind and solar), Class II (other Florida renewables), and Class III (nuclear placed after July 1, 2011, and fossil fuels with carbon capture), with Class III capped at 25% of compliance requirements.

• Authorizes utilities to recover costs of converting existing fossil fuel plants to biomass plants and encourages joint ownership of nuclear power plants to minimize financial risk.

• Creates a natural gas surcharge mechanism allowing utilities to recover costs of expanding natural gas service to underserved areas, capped at 2% of annual nonfuel revenue, with provisions expiring December 31, 2016.

• Requires the Florida Energy and Climate Commission to report on energy efficiency programs for low-income households by December 1, 2011, and mandates commission approval from the Legislative Budget Commission before spending federal stimulus funds.