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FPL Seeks 30 Percent Rate Hike

August 24th, 2009 by flanews

The states largest power company is seeking a 30 percent rate increase.

Florida Power and Light began making its case to the Florida Public Service Commission Monday. FPL provides electricity to 4.5 million households. The company hasnt had a rate hike since 1985 and has the lowest prices in the state. Still, with double digit unemployment and thousands of Floridians losing their homes to foreclosure, now may not be the best time to ask for a rate increase. FPL Spokeswoman Jackie Anderson said with the falling cost of natural gas, customers will actually see a rate decrease, even if the companys request is approved.

We are mindful of the difficult economy, but the fact is that the bill is actually expected to go down starting in January so there has been a decrease in fuel cost and its also due to the efficiency improvements, said Anderson.

FPL says it is now producing more power while using less fuel. Money from the increase would be used to further the companys efficiency efforts. Attorney General Bill McCollum and Chief Financial Officer Alex Sink, both gubernatorial candidates, are opposing the rate hike request.

Posted in Economy, State News | 17 Comments »

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