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FILED 2/26/2018 DOCUMENT NO. 01849-2018 FPSC - COMMISSION CLERK BEFORE THE FLORIDA PUBLIC SERVICE COMMISSION y�%le I b In re: Fuel and purchased power cost recovery DOCKET NO. 20180001 -EI clause with generating performance incentive ORDER NO. PSC -2018 -0105 -PCO -EI factor. ISSUED: February 26, 2018 The following Commissioners participated in the disposition of this matter: ART GRAHAM, Chairman JULIE 1. BROWN DONALD J. POLMANN GARY F. CLARK RDER APPROVING FLORIDA POWER & LIGHT COMP PETITION FOR MID -COURSE CORRECTION BY THE COMMISSION: On November 17, 2017, Florida Power & Light Company (FPL) filed a Petition for Mid - Course Correction of Fuel Cost Recovery and Capacity Cost Recovery Factors and GPIF Targets for 2018 (Petition). The Petition seeks three things: 1) to reduce the respective 2018 fuel cost recovery factors approved in Order No. PSC-2018-0028-FOF-EI;I 2) to approve the capacity factors; and 3) to approve the revisions to FPL's generating performance incentive factor (GPIF) performance metrics. The requested approvals reflect the impact of the Commission -approved St. John's River Power Park (SJRPP) transaction, pursuant to Order No. PSC-2017-0415-AS- EI.z Mid -course corrections are part of the fuel and purchased power cost recovery clause (fuel clause) proceeding, and such corrections are used by this Commission between fuel clause hearings whenever costs deviate from revenues by a significant margin. Petitions for mid -course corrections to fuel factors are addressed by Rule 25-6.0424, Florida Administrative Code (F.A.C.). Under this rule, a utility must notify the Commission whenever it expects to experience an under -recovery or over -recovery greater than 10 percent. Pursuant to Rule 25- 6.0424, F.A.C., the mid -course percentage is the estimated end -of -period total net true -up amount divided by the current period's total actual and estimated jurisdictional fuel revenue applicable to period amount. Mid -course corrections are considered preliminary procedural decisions, and any over -recoveries or under -recoveries caused by or resulting from the Commission -approved adjusted fuel factors may be included in the following year's fuel factors. If approved by this Commission, this mid -course correction will result in lower cost recovery factors for FPL's customers. This mid -course correction was filed by FPL with the 'Order No. PSC-2018-0028-FOF-EI, issued January 8, 2018, in Docket No: 20180001 -EI (2017 Order), In re: Fuel and Purchased Power Cost Recovery Clause with Generating Performance Incentive Factor. OOdder No. PSC -2017 -0415 -AS -EI, issued October 24, 2017, in Docket No: 20170123 -EI, In re: Petition for aonroval of arrangement to mitigate unfavorable imbact of St. John's River Power Park. by Florida Power & Light Company.