FMPA Awards Construction Contract for Power Plant Near Fort Pierce

ORLANDO, Fla., Feb. 24, 2006 –Florida Municipal Power Agency (FMPA) awarded a contract to The Industrial Company (TIC) and Utility Engineering for engineering, procurement and construction of a new natural gas power plant, called Treasure Coast Energy Center, near Fort Pierce, Fla.

“I am confident that TIC and Utility Engineering are the right partners to help us successfully complete this important new power resource for Florida’s Treasure Coast and the communities we serve throughout the state,” said FMPA General Manager and CEO Roger Fontes.

“Besides offering a very competitive bid, the TIC and Utility Engineering team impressed us with their specialized knowledge, solid performance guarantee and, most importantly, their focus on values that are shared by FMPA and its members. Like FMPA, TIC and Utility Engineering are committed to maximizing the positive impacts this project will have on the local community,” said Fontes.

TIC and Utility Engineering were selected through a competitive request for proposal process. Design engineering of the plant will begin immediately. Construction will begin later this year, and the plant is scheduled to begin commercial operation in May 2008.

“TIC and our partner, Utility Engineering, are pleased and excited with the opportunity to design and construct the Treasure Coast Energy Center for FMPA,” said Jeff Piper, TIC’s Vice President Southeast Region. “We understand just how critical this project is to FMPA, and, through a strong partnered relationship coupled with experienced and dedicated people, we will achieve our shared goals. TIC and Utility Engineering will use the Treasure Coast opportunity to perform with excellence as one of the steps in developing a long and valued relationship with FMPA.”

“Utility Engineering appreciates the opportunity to team with TIC to work with the FMPA folks on designing and building this vital power plant to help the FMPA owners meet their expected electrical load growth with an efficient, environmentally friendly facility,” said Ed Barron, P.E., Senior Vice President of Utility Engineering.

Treasure Coast Energy Center is a 300 Megawatt high-efficiency, natural gas-fired power plant to be located in St. Lucie County, Fla., near the city of Fort Pierce. Electricity from the new facility is needed to support the growing power needs of Florida’s Treasure Coast and other communities throughout the state. This power plant, with its advanced environmental control technologies, will be one of the lowest air emission plants in Florida and one of the highest efficiency plants in the state. The plant will be owned by FMPA and operated under contract by Fort Pierce Utilities Authority.

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