) operating wing Florida Power & Light ("FPL") Company
announced the successful conclusion of a string of operational
tests on the first natural gas-powered combustion turbines at its
Riviera Beach Next Generation Clean Energy Center.
The preliminary testing phase commenced in late Sep 2013 and
involved a range of assessments as well as running the combustion
turbine at 25 megawatts (MW) of electricity. The high-tech
Riviera Beach facility has three combustion turbines.
Development work at the facility is still underway and on
completion will have a generating capacity of up to 1,250 MW
which will adequately serve FirstEnergy's 250,000 customers by
the first half of 2014.
FirstEnergy is using the first combustion turbine to carry out
a series of steam pipe-cleaning activities to prepare the
facility's piping for full operation. At the moment, testing on
the second combustion turbine is proceeding with the third
turbine set for testing in November.
FirstEnergy spent over $1 billion for the cutting-edge
infrastructure of the Riviera Beach Center. The facility will
generate power using 33% less fuel per megawatt-hour and will
have lower emissions than the previous plant, demolished in
The Riviera Beach Center employs combined-cycle natural gas
technology which will contribute to substantial net savings for
FirstEnergy's customers. The facility's operational lifespan is
projected to be 30 years.
The project represents FirstEnergy's strategy to steadily
minimize its reliance on foreign fuel. The company's
modernization efforts are directed towards improvement of service
reliability and offering competitive power rates. This move will
certainly lead to customer retention as well as add more non-FPL
FirstEnergy is gradually steering its investments to
fuel-efficient power plants. In early 2013, its Cape Canaveral
Next Generation Clean Energy Center came online and the company
has already torn down its Port Everglades plant to build a new
center to be open in 2016.
FirstEnergy's conversion to natural gas cannot be better
timed, as the current pulse in the U.S. market is increasingly in
favor of clean energy.
The company has also been busy developing its transmission
network to support its operations. In late August, it energized a
138 Kilovolt transmission line in Pennsylvania. We believe these
steps will help keep FirstEnergy's momentum steady.
However, coal still holds a major share of FirstEnergy's
generation. Strict environmental laws are forcing FirstEnergy to
close down its coal plants which will impact the company's
operations. Currently, the company carries a Zacks Rank #3
However, other well-placed operators include Zacks Ranked #2
Alliant Energy Corp.
AMEREN CORP (AEE): Free Stock Analysis Report
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FIRSTENERGY CP (FE): Free Stock Analysis
ALLIANT ENGY CP (LNT): Free Stock Analysis
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