Cost of power line project balloons as JEA and JAXPORT work out cost-sharing agreement
The cost to raise power lines over the St. Johns River to allow larger cargo ships to deliver goods to JAXPORT continues to balloon.
The promise of attracting larger cargo ships is the driving force behind a plan to raise the power lines near the Dames Point Bridge by 50 feet.
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It was one of the projects highlighted during this year's State of the Port presentation.
'Raising the power lines to give the overhead clearance that's needed to accommodate those ships, you know, we're working closely with JEA, and we're expecting for that project to actually be completed by the end of 2026,' said JAXPORT CEO Eric Green.
The latest cost analysis puts the total price tag on the project at $117 million, which is more than two and a half times the initial estimate of $45 million.
RELATED: Cost of raising power lines over the St. Johns River may increase by millions
FDOT and the city have committed a combined $45 million towards the project, meaning JAXPORT and JEA will have to split the remaining $72 million bill.
Green said a cost-sharing deal is still being worked out between the two companies.
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'We continue to talk about what the cost-sharing looks like. It should come out in the next week or two,' said Green.
As far as JEA is concerned, the rising cost isn't expected to result in any rate increase for consumers, with the utility telling us its share of the project will come from surplus electric revenue generated during last year's hot summer.
RELATED: Costs rise to raise power lines over the St. Johns River near JAXPORT
'JEA's proposed rate adjustments for FY25 are predominantly attributed to obligations to Plant Vogtle, capital projects, and state and federal regulatory requirements,' said a JEA spokesperson in an emailed statement.
And Green argued the commitment from all four partners highlights the importance of the project for the local economy.
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'And when you put all four in, it just shows you know what JAXPORT means to the community, the jobs that we create, so on and so forth,' said Green.
JEA also told Action News Jax the project isn't just about bringing in bigger ships.
The utility said the project will also result in improvements to the resiliency of the power grid and cooperate with new technology that will improve efficiency.
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