Florida’s transition to more efficient and clean energy production hit a speed bump last month when Juno Beach, Fla.-based FPL Group said it would immediately halt work on approved nuclear and modernization projects that collectively totaled as much as $20 billion.
The sudden move came on the heels of the state Public Service Commission rejecting FPL’s requests for rate hikes totaling more than $1 billion. FPL Group Chairman and CEO Lew Hay cited the decision as evidence of a deteriorating regulatory climate in Florida that “is increasingly hostile to investment.”