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ORDER NO. PSC-2018-0028-FOF-EI DOCKET NO. 20180001 -El PAGE 14 FIPUG did not sponsor a witness to address this issue, waived cross-examination of FPL witness Cohen, and did not specifically address this issue in its brief. Having reviewed the testimony, exhibits, and calculations used by FPL witness Cohen for determining the appropriate incremental cost recovery factor associated with the 2017 SoBRA projects we fmd that the appropriate base rate percentage increase (SoBRA Factor) for the 2017 SoBRA projects is 0.937 percent. G. 2018 SoBRA Revenue Requirement Witness Fuentes testified that the annualized jurisdictional revenue requirement for the first 12 months of operations related to the 2018 SoBRA projects is $59,890,000. Witness Fuentes further stated that the revenue requirement was calculated by following the methodologies approved by this Commission for FPL's generation base rate adjustments (GBRA) for Turkey Point Unit 5 and West County Energy Center Units 1 and 2 in Order No. PSC-05-0902-S-EI,12 West County Energy Center Unit 3 in Order No. PSC-11-0089-S-EI,13 and the modernization projects at Canaveral, Riviera Beach, and Port Everglades in Order No. PSC- 13-0023-S-EI.14 Witness Fuentes also testified that the same methodology was used with the recently approved 2019 Okeechobee Limited Scope Adjustment (Okeechobee LSA). The jurisdictional annualized revenue requirement calculation for the 2018 SoBRA projects used several inputs, including the most current estimated capital expenditures presented by FPL witness Brannen. FIPUG did not sponsor a witness to address this issue, and waived cross-examination of FPL witness Fuentes. In its brief, FIPUG only presented arguments about FPL's reserve margin, the overall cost effectiveness of the 2018 SoBRA projects, and the appropriate cost recovery mechanism for these projects, but did not specifically address this issue. Having reviewed the testimony, exhibits, and calculations used by FPL witness Fuentes for determining the amount of revenue requirement associated with the 2018 SoBRA projects we find them to be reasonable and set the jurisdictional annualized revenue requirement associated with the 2018 SoBRA projects at $59,890,000. H. 2018 Base Rate Percentage Increase Similar to the 2017 recovery factors, the 2018 SoBRA factors are incremental cost recovery factors that will be applied to base rate charges in order for the Company to collect the revenue necessary to recover the costs associated with building and operating the 2018 SoBRA projects. The SoBRA recovery factors are based on the ratio of the Company's jurisdictional revenue requirements for each Project (by year) and the forecasted retail base revenue from electricity sales for the first twelve months of each rate year, beginning January 1, 2018 for the 12 Order No. PSC -05 -0902 -S -EI, issued September 14, 2005, in Docket No. 20050045 -EI, In re: Petition for rate increase by Florida Power & Light Company, and in Docket No. 20050188 -EI, In re: 2005 comprehensive depreciation study by Florida Power & Light Company. 13 Order No. PSC -11 -0089 -S -EI, issued February 1, 2011, in Docket No. 20080677 -EI, In re: Petition for increase in rates by Florida Power & Light Company, and in Docket No. 20090130 -EI, In re: 2009 depreciation and dismantlement study by Florida Power & Light Company. 14 Order No. PSC -13 -0023 -S -EI, issued January 14, 2013, in Docket No. 20120015 -EI, In re: Petition for increase in rates by Florida Power & Light Company,.