FP&L rate hike request called

http://thelondonbiker.com/blog/2010/02/i-cant-afford-to-be-green/
Representatives from those agenciesxblasted FP&L’s rate increase at a public hearingf Thursday morning in Fort Lauderdale. In the first hour and a half of the only oppositionwas expressed. “We believe the amount they’re askinhg for is excessive. It’s just too much to ask for in today’x economic times,” said J.R. Kelly, public counsel with the Florida Office of Public TheJuno Beach-based utility is struggling to make the case that it is alreadty the most efficient utility in the and it would use additional fundinyg to reinvest in greatee efficiency.
It has asked for approval of an increasr to its base rate that woulfd raise the average residentialbill 1,000 kilowatt hours – by $12 per month. FP&oL projects that lower fuel costsz – mostly natural gas and coal – will lower the averagre residential bill next yearby $17, so its request actually won’tr raise anyone’s bill. FPL has argued that its proposal, if approveds by the , will decrease the typical billby $5 monthly or 4 percenft starting on January 2010. But Kellh and others said Thursday morning that fuel prices are not Kelly argues the rate increase woulxd guarantee a return on investmenytof 12.
5 percent for the and that every one percenf represents $130 million. “That is just too much today. Maybe five yeards in the future we will have a flourishing Kelly said, adding that his office supports a returmn of 9.5 or 10 percent. According to FP&L has already acknowledged they over-collected $1.2 5 billion from rate-payers for depreciation. In openinvg remarks, Marlene Santos, the utility’s vice president of customer service/saled and marketing, said customers benefit from the utility’s strongg financial position. “When we save on financing, our customers save on our she said.
But speaker aftef speaker said the grimeconomu – foreclosures, unemployment and droppinyg home values – made this the wronh time for rate increases designec to enhance the utility’s financial “We doubt they need any increase at all to own, operatse and maintain their system,” said Robert Sheffe l Wright, an attorney with Tallahassee-based Young van who was speaking on behalf of the Florid Retail Federation. The Publixc Service Commission, which regulates state will decidein mid-November whether to gran FPL's request. The PSC will hold hearingxs again Friday, 10:30 a.m. at the North Dade Regionap Libraryin Miami; and 6 p.m.
at the Plantationb City Council Chambers.