This marks the first settlement resulting from a reliability investigation by the Federal Energy Regulatory Commission (FERC) enforcing a 2005 law establishing electric reliability standards. This fine won't be going to customers. Instead FPL, facing a potential of $1B+ in fines, agreed to pay $10M to the United States Treasury, $10M to the North American Electric Reliability Corp. (NERC). The remaining $5 million is to go towards measures beyond current reliability requirements in a regulatorily approved manner- otherwise, whatever remains of the last $5M will be evenly split between US Treasury and NERC.
- "Today's settlement demonstrates the high priority the commission places on electric reliability,'' said Norman Bay, director of the commission's Office of Enforcement. ``The message to the industry is clear: Compliance with the standards is critical.''
More:
- October 8, 2009 - FERC approves settlement, $25 million fine for FPL's 2008 Blackout News Release Decision - ferc.gov
- FPL to pay $25M for blackout blunder – Miami Herald (Oct 8, 2009)
- FPL could face $1 billion in fines – SunSentinel.com, (Jan 28, 2009)
- Interesting - FPL Conference Call with Major Media- Preliminary Investigation Results (Audio ~45m) - (Feb 29, 2009) - from FPL 2008 website posting. (updated link- 8/2011)
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