Dive Summary:
- Despite opposition from the Florida's Office of Public Counsel and the Florida Retail Federation, the Public Service Commission (PSC) voted 4-to-1 to move forward with a formal hearing on the Florida Power & Light Company's (FPL) proposed rate increase settlement.
- The settlement has the support of FPL's large commercial and government customers but is objected to by most residential customers represented by the Office of Public Counsel, who have yet to see a settlement they opposed be approved and could appeal to the Florida Supreme Court if that happens.
- Consumer advocacy groups argue that residential customers would see their rates increase by 24% over the next four years, though the FPL claims that it would only be 7%.
From the article:
"... FPL, a unit of NextEra Energy Inc. and the state's largest electric utility, signed the tentative agreement with three groups representing industrial power users, federal agencies and South Florida hospitals. Overall rates for such large commercial customers would remain flat or decline under the proposal at least through 2013.
'It's a bad deal for the vast majority of FPL's customers,' said Assistant Public Counsel Charles Rehwinkel. 'It will not, as settlements should, promote the efficiency, speed and just resolution of this case. Instead, the proposal will entangle the commission and the parties in a quagmire of wrangling for months, if not years, to come.' ..."