- NextEra Energy (NEE +0.7%) says its Florida Power unit has been preparing for the arrival of Hurricane Irma for a week and is "more ready than we have been for any other storm in our company's history."
- In a briefing today, Florida Power said it would shut its two nuclear power plants in the storm's path before hurricane force winds hit the state, without offering a specific time frame; FPL generates enough power for ~1.9M homes at the two plants, which are both along the Atlantic coast.
- FPL says it has invested $3B to protect its electricity grid since 2005, when the last major hurricane damaged power facilities in Florida, but cautions that Irma may knock out power for weeks in some cases, as no grid can withstand a Category 5 hurricane.
- FPL may need to turn off some substations ahead of any major flooding, which it says could help restore power faster once any floodwaters recede, rather than keeping them on and allowing the storm to damage them.
- Now read: Carbon Capture Runs Up The White Flag: Cover For 'Clean Coal' Disappears
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