Florida Power & Light Rate Increase Faces Opposition

Jul 05, 2012 No Comments by

Florida Power & Light Co.’s request to increase rates for its 4.6 million metered customers is being met with strong opposition.

FPL is seeking to raise its base rates by 16 percent, which would equal about $7.09 per month for the average customer who uses 1,000 kilowatt hours. However, due to a drop in fuel costs, which affects billing, FPL estimates the rate increase will only amount to about $1.41 for residential customers.

Still, in a series of public hearings, the utility has been hit by a wave of criticism by customers who believe its leaders are trying to unfairly maximize profits. FPL’s proposed rate increase will total about $690.4 million and is scheduled to go before the state Public Service Commission this August.

FPL, a subsidiary of Juno Beach-based NextEra Energy Inc. (NYSE: NEE), provides service to 4.5 million Floridians.

Source:  SFBJ

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