Dive Summary:
- Florida state regulators have approved a rate hike that will provide funds for Progress Energy and Florida Power & Light (FPL) to build nuclear power plants.
- FPL's customers will seen an increase of $1.69 each month, while Progress' customers will pay $4.79 more; the companies say that having their customers pay more up front will lower costs later.
- The total costs for the new plants is estimated at $24 billion, but there's no guarantee that any of them will be built; Florida's Supreme Court is still considering whether the plan to raise rates to help fund the potential plants is constitutional.
From the article:
State regulators approved a rate hike Monday that will help utility companies like Progress Energy and Florida Power & Light build nuclear power plants.
The ruling means, starting next year, Florida Power & Light customers will pay $1.69 more each month and Progress Energy customers will pay $4.79 more per month. ...
