FL S0498

Excludes renewable energy producers from the definition of "public utility" if they produce and sell no more than 5 megawatt hours per hour of renewable energy to users located on adjacent, contiguous, or within 1/2 mile of the production site.

Requires public utilities to continuously offer purchase contracts to renewable energy producers at the same rate the utility charges its ratepayers for electricity.

Eliminates the previous requirement that utilities pay based on "full avoided costs" and removes provisions allowing utilities to avoid capacity payments.

Mandates minimum contract terms of at least 10 years between utilities and renewable energy producers.

Requires that all prudent and reasonable costs from renewable energy contracts be recovered from ratepayers without differentiation among customer classes, effective July 1, 2013.