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FILED 6/18/2018 DOCUMENT NO. 04261-2018 FPSC - COMMISSION CLERK BEFORE THE FLORIDA PUBLIC SERVICE COMMISSION In re: Fuel and purchased power cost recovery DOCKET NO. 20180001 -EI clause with generating performance incentive ORDER NO. PSC -2018 -0313 -PCO -EI factor. I ISSUED: June 18, 2018 The following Commissioners participated in the disposition of this matter: ART GRAHAM, Chairman JULIE I. BROWN DONALD J. POLMANN GARY F. CLARK ANDREW GILES FAY ORDER APPROVING MID -COURSE CORRECTION BY THE COMMISSION: On April 16, 2018, Florida Power & Light Company (FPL) filed a Petition for Mid - Course Corrections to its 2018 Capacity and Environmental Cost Recovery Factors that reflect the impact of the Tax Cuts and Jobs Act of 2017 (FPL Mid -Course Petition). The FPL Mid - Course Petition seeks to reduce the respective 2018 capacity cost recovery factors that were approved in Order No. PSC-2018-0105-PCO-EI,1 and the environmental cost recovery factors that were approved in Order No. PSC-2018-0100-FOF-EI.2 The capacity cost recovery portion of FPL's Mid -Course Petition will be addressed in Docket No. 20180001 -EI, and environmental cost recovery clause reduction will be addressed in Docket No. 20180007 -EI. 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 in Rule 25-6.0424, Florida Administrative Code (F.A.C.). Under this rule, a utility must notify this 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. 'By Order No. PSC -2018 -0105 -PCO -EI, issued February 26, 2018, in Docket No. 20180001 -EI (First Mid -Course Order), In re: Fuel and Purchased Power Cost Recovery Clause with Generating Performance Incentive Factor, this Commission approved a prior mid -course correction from FPL. The instant pleading is the second petition for a mid- course correction FPL has filed in this docket in 2018. 2Order No. PSC-2018-0100-FOF-EI, issued February 22, 2018, in Docket No. 20180007 -EI, In re: Environmental Cost Recovery Clause. C1