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C7Y Miami Beach SPP Commission PresentationStorm Protection Plan An updated overview for the City of Miami Beach Florida Power & Light Company Energy is produced at power plants and is distributed through the energy grid to serve our customers Transmission Lines Feeder Lines Lateral Lines FPL’s Distribution Lateral Hardening Program focuses on neighborhood power lines, which are closest to customers Transmission lines Main or “feeder” lines Neighborhood lines or “laterals” Before and after a lateral undergrounding project No upfront costs FPL is responsible for project implementation Faster restoration, fewer vegetation related outages, and reliability that is12X better than overhead laterals(1) Benefits of Undergrounding through the SPP 1) According to an FPL analysis after the 2023 storm season Power line performance during previous named storms Outages on power lines due to vegetation issues Performance of power line during day-to-day operations Criteria for selecting neighborhoods is approved by the Florida Public Service Commission Overhead to Underground Conversion Cost Estimate DLHP Plan and Growth – City of Miami Beach (7 yr look ahead) *This table is based on reliability data as of 04/2024. Estimated project dates may be affected by reliability data prior to project selection time. The Cost of Conversions ➢The two key drivers of conversion costs are labor and materials. ➢Depending on these factors, underground facilities can cost anywhere from $500,000 per mile to more than $4 million per mile. ➢While these figures have a considerable amount of variability, there is a process in place where we generate a “ballpark” estimate to assist in determining the magnitude of the cost a community may be considering. ➢LOWER BOUND: 10.25 miles of overhead laterals X $500k = $5.125m ➢UPPER BOUND: 10.25 miles of overhead laterals x $4m = $41m 40th St – 800938 – (2025-2027)* 11 Venetian – 804437 – (2025-2027)* 12 Miami Beach – 800248 – (2025-2026)* 13 Miami Beach – 800238 – (2025-2028) 14 40th St – 800933 – (2028-2031) 15 40th St – 800935 – (2028-2031) 16 Venetian – 804438 – (2025-2028) 17 Roney – 809342 – (2028-2031) 18