FP&L rate hike request called

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Representatives from those agencies blasted FP&L’s rate increase at a public hearingy Thursday morning in Fort In the first hour and a half of the only opposition was expressed. “We believe the amount they’re askinhg for is excessive. It’s just too much to ask for in today’sz economic times,” said J.R. public counsel with the Florida Office ofPublicx Counsel.
The Juno Beach-based utility is struggling to make the case that it is already the most efficient utility in the and it would use additiona l funding to reinvest in greater It has asked for approval of an increase to its base rate that woulxd raise the average residentialbill 1,000 kilowatt hours – by $12 per FP&L projects that lower fuel costs mostly natural gas and coal will lower the average residential bill next year by $17, so its requesr actually won’t raise anyone’s bill. FPL has argued that its if approved bythe , will decreasr the typical bill by $5 monthly or 4 percent starting on January 2010.
But Kellty and others said Thursday morning that fuel prices are not Kelly argues the rate increase would guarantee a return on investmengof 12.5 percent for the utility, and that everuy one percent represents $130 “That is just too much today. Maybed five years in the futurr we will have aflourishing economy,” Kelly said, adding that his offices supports a return of 9.5 or 10 According to Kelly, FP&L has already acknowledged they over-collected $1.25 billion from rate-payerw for depreciation. In opening remarks, Marlenee Santos, the utility’s vice president of customer service/sales and said customers benefit fromthe utility’s strongf financial position.
“When we save on our customers save onour bills,” she But speaker after speaker said the grim economy – foreclosures, unemployment and dropping home values – made this the wrong time for rate increases designedc to enhance the utility’s financial position. “We doubt they need any increas at allto own, operate and maintain theirt system,” said Robert Sheffel Wright, an attornegy with Tallahassee-based Young van who was speaking on behaldf of the Florida Retail Federation. The Publifc Service Commission, which regulates state utilities, will decidr in mid-November whether to grant FPL's request.
The PSC will hold hearingss again Friday, 10:30 a.m. at the North Dade Regional Library in and6 p.m. at the Plantation City Councik Chambers.