FPL to Spend $1 Billion for Upgrades at Turkey Point

TURKEY POINT, FL - AUGUST 20: A worker walks in the past the Turkey Point Nuclear Power Plant August 20, 2002 near Florida City, Florida. The plant, owned by Florida Power & Light Co., was granted a 20 year extension to its original license period by the Nuclear Regulatory Commission. The license extension were granted after a four-year application and review process that included a comprehensive safety and environmental analysis. The training control room is a replica of a the power plants control room and is used to test plant operators. (Photo by Joe Raedle/Getty Images) Getty Images

Florida Power & Light will spend $1 billion to upgrade the Turkey Point nuclear power plant, a company spokesperson said Monday.

The replacement of components such as electrical transformers, pumps, valves, steam pipes and heat exchangers will have higher power levels, said Bianca Cruz in an email statement.

The St. Lucie power plant is also getting an upgrade of $1.3 billion, and together FPL says it will help save customers an estimated $141 million on fossil fuel costs, and an expected $4.8 billion over the operating lifetime.

FPL says that when the construction project is at it's peak, an additional 5,000 workers at Turkey Point will help contribute to the economy of the region. Temporary contractors will spend approximately $11 million each month to cover for their living expenses such as food, rent, gas, and other necessities, the statement said.

FPL vice president Michael Kiley told The Miami Herald that the completed project will help the plant overall and help produce 15 percent more electricity.

“It’s going to be virtually a brand new secondary plant that will produce 15 percent more electricity,’’ he told The Miami Herald during a Turkey Point media tour last week.

FPL still needs to first obtain approval from the U.S Nuclear Regulatory Commission before it can produce the increase.

FPL plans to complete the project in 2013.