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ORDER NO. PSC -2020 -0293 -AS -EI DOCKET NOS. 20200067 -EI, 20200069-E1, 20200070-EI,20200071-EI,20200092-EI PAGE 4 hear oral argument from the parties in support of each Settlement Agreement to which it is a signatory, to admit testimony and documentary evidence into the record, and to consider each of the Settlement Agreements. A. Gulf and FPL Settlement Agreement On July 27, 2020, Gulf, FPL, OPC, and Walmart submitted a Joint Motion for Expedited Approval of a Stipulation and Settlement Agreement in the Gulf and FPL SPP dockets and the SPPCRC docket, and attached a Settlement Agreement to the Motion (Gulf and FPL Settlement Agreement). The Gulf and FPL Settlement Agreement, attached hereto as Attachment A, is signed and executed by Gulf, FPL, OPC, and Walmart (collectively, the Gulf and FPL Settlement Agreement Signatories). FIPUG took no position on the Joint Motion for Expedited Approval of a Stipulation and Settlement Agreement. PCS is not a parry to the Gulf and FPL SPP dockets. The Gulf and FPL Settlement Agreement Signatories contend that the Gulf and FPL Settlement Agreement resolves all matters in the Gulf and FPL SPP dockets, and also provides a partial resolution of Gulf and FPL's matters in the SPPCRC docket. The Gulf and FPL Settlement Agreement Signatories further contend that approving the stipulations set forth in the Settlement Agreement will promote administrative and regulatory efficiency in those dockets. The Gulf and FPL Settlement Agreement Signatories argue that when considered as a whole, the Gulf and FPL Settlement Agreement fairly and reasonably balances the interests of the customers and utilities, is consistent with the stated purpose and intent of Section 366.96, F.S., and is in the public interest. Key provisions of the Gulf and FPL Settlement Agreement include: • The Signatories agree that the record supports a finding that the following Gulf SPP programs are in the public interest, and that Gulf proceeding to implement the following SPP programs is not evidence of imprudence: o Gulf Distribution Inspection Program o Gulf Transmission Inspection Program o Gulf Vegetation Management — Distribution Program o Gulf Vegetation Management — Transmission Program o Gulf Distribution Feeder Hardening Program o Gulf Transmission Hardening Program, including Gulf's Transmission and Substation Resiliency Program and Gulf's Substation Flood Monitoring and Hardening Program • The Signatories agree that Gulf's pilot Distribution Hardening — Lateral Undergrounding Program, limited for the years 2020-2022 in the amounts reflected for those years in Gulf's SPP, shall be approved for the years 2020- 2022. For Distribution Hardening — Lateral Undergrounding Program activities for the year 2023, Gulf shall file an SPP update in 2022 in order to seek recovery of costs for such 2023 activities in 2023. The Signatories further agree that their consent to this pilot program under the terms of the Gulf and FPL Settlement