A surge of ads
NextEra Energy plans to buy Fla. assets of Southern Co.
in Florida’s governor race shines a light on the state’s loosely regulated campaign finance system.
The parent of Florida Power & Light Co., the state’s largest utility, announced plans on Monday for an enormous acquisition that would include invading the turf of Orlando’s utility.
NextEra Energy is moving to buy the Florida assets of Southern Co., including its Panhandle subsidiary of Gulf Power and a 65 percent portion of a large power plant at the Orlando Utilities Commission’s Stanton Energy Center.
Florida Power & Light has nearly 5 million customers; Gulf Power has more than 450,000 customers and is the state’s fifth-largest utility, ranking just behind Jacksonville’s. The purchase price is $5.1 billion, with NextEra assuming $1.4 billion in Gulf Power debt.
“This morning, OUC received notification of Southern Company’s intent to sell its 65 percent share of Stanton Energy Center’s Unit A,” said Jan Aspuru, the chief operating officer for Orlando’s utility, which owns 28 percent of the plant. “We do not anticipate any impact on OUC’s operations to our customers or employees at the Stanton Energy Center.”
Powered by natural gas, the plant at Stanton Energy Center started up in 2003, rising from a failure by Southern Co. and Orlando Utilities Commission to erect what would have been a cutting-edge power plant using coal.
Orlando’s utility recently considered ending at least some of its involvement with the plant in favor of building a more efficient version.
Ultimately, the city utility decided to maintain its relationship with Southern Co. as the most cost-effective choice.
The plant is now run by Southern Co., and who will run it after the deal closes was left unclear. NextEra did return a call for comment.
NextEra’s announcement included a misleading reference to purchasing a “65 percent ownership interest in Stanton Energy Center.”
Along with the Southern Co. power plant, the Stanton Energy Center in east Orange