FL S1472

Modifies cost recovery mechanisms for siting, design, licensing, and construction of nuclear and integrated gasification combined cycle power plants under Florida law.

Establishes phased approval process requiring utilities to petition the Public Service Commission before proceeding with preconstruction work beyond licensing activities and before beginning construction.

Requires utilities to obtain Commission approval for preconstruction equipment or materials purchases exceeding 1 percent of total projected project costs, reviewed in annual Nuclear Cost Recovery Clause proceedings.

Sets 10-year deadline for utilities to begin construction after obtaining a license/certification, with Commission determining continued intent to build; prohibits cost recovery after 20 years from license/certification date unless utility proves by preponderance of evidence it has committed sufficient resources with realistic intent to complete the project.

Changes statutory language from "shall" to "must" and adjusts AFUDC carrying cost calculations to use the most recently approved pretax AFUDC rate at the time cost recovery is sought; effective July 1, 2013.