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sign the tariff. Under the tariff, a customer may obtain service
from FPL by applying in writing, by telephone, or in person. The
tariff included a fuel clause, which calculated the cost of fuel
and of purchased power in accordance with a formula “to reflect
the cost of fossil and nuclear fuels and purchased power for each
kilowatt-hour delivered”.
A. Nuclear Fuel Assemblies
FPL claims ITCs for nuclear fuel assemblies in the 1988,
1989, and 1990 taxable years. Generally, to generate electricity
at a power plant, a heat source heats water to form steam, which
drives a turbine of an electric generator. At a nuclear power
plant, the heat source is a nuclear fission reaction in a nuclear
reactor. The nuclear fission reaction occurs in the “core” of
the reactor where an arrangement of nuclear fuel assemblies (fuel
assemblies or nuclear fuel) is located. Essentially, a fuel
assembly is loaded with nuclear fuel rods, which house enriched
uranium pellets. Fuel fabrication refers to the process of
making the pellets, putting those pellets into a fuel rod, and
bundling these rods together into different support components to
make a fuel assembly.
4(...continued)
under [F]PSC rules, every six months Florida Power and
Light has to submit to the [F]PSC the costs that it
intends to recover from the customer. And it has to
have it approved by the [F]PSC * * *.
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Last modified: May 25, 2011