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2006 News Releases
Date: March 27, 2006
Gulfstream Natural Gas System Reaches Firm Transportation
Agreement With Florida Power & Light Company
Agreement Brings Gulfstream's Contracted Capacity
to 100%
TAMPA, Fla. - Gulfstream Natural Gas System, L.L.C. today announced
a 23-year agreement with Florida Power & Light Company in which
Gulfstream will provide up to 345,000 dekatherms per day of firm
natural gas transportation service for FPL's West County Energy
Center.
The agreement subscribes the remaining system capacity of 1,095,000
dekatherms per day under long-term firm contracts, up from the previous
level of 753,000 dekatherms per day. Under the agreement, Gulfstream
will extend its existing 30-inch diameter natural gas transmission
pipeline by approximately 35 miles from Martin County to FPL's proposed
West County Energy Center in Palm Beach County. The agreement is
conditioned upon FPL receiving approval from the Florida Public
Service Commission of FPL's Petition to Determine Need and final
approval from the State of Florida Power Plant Siting Board.
Gulfstream anticipates construction of the Phase III Extension
to begin in early 2008 with a targeted completion of summer 2008.
"This is a major milestone for Gulfstream and the State of
Florida," said Brad Reese, Gulfstream Vice President, Business
Functions. "Not only does this agreement represent a timely
and effective means of delivering needed natural gas supplies directly
to FPL's proposed new electric demand center, it also fully subscribes
our pipeline's initial mainline capacity on a long-term basis."
He added, "Gulfstream and FPL have developed a solid working
relationship. We are delighted to have the opportunity to provide
FPL's West County Energy Center the same reliable service we currently
provide to all of our shippers in Florida. We look forward to continuing
to expand our transportation service to support Florida's growing
need for natural gas."
FPL is preparing to add two new, natural gas-fired combined-cycle
generating units to a 220-acre site in unincorporated western Palm
Beach County. The new units will be capable of serving the equivalent
of 460,000 homes and businesses.
Placed into service in May 2002, Gulfstream Natural Gas System
is a 691-mile pipeline system with the capacity to deliver 1,095,000
dekatherms of natural gas each day to serve Florida's growing energy
needs. The pipeline is a joint development between Williams (NYSE:WMB)
and Duke Energy (NYSE:DUK). Additional information is available
on the Internet at www.gulfstreamgas.com.
Florida Power & Light Company is the principal subsidiary of
FPL Group, Inc. (NYSE: FPL), nationally known as a high-quality,
efficient and customer-driven organization focused on energy-related
products and services. FPL Group is widely recognized as one of
the country's premier power companies. Florida Power & Light
Company serves more than 4 million customer accounts in Florida.
Additional information is available on the Internet at www.FPL.com
and www.FPLGroup.com.
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