FP&L rate hike request called

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Representatives from those agenciesblasted FP&L’s rate increaser at a public hearing Thursday morning in Fort In the first hour and a half of the only opposition was expressed. “We believe the amount they’re asking for is excessive. It’x just too much to ask for in today’s economic said J.R. Kelly, public counsel with the Florida Office of Public TheJuno Beach-based utility is strugglingf to make the case that it is already the most efficient utility in the and it would use additionap funding to reinvest in greater efficiency.
It has asked for approval of an increasse to its base rate that would raisr the average residentialbill – 1,000 kilowattf hours – by $12 per month. FP& projects that lower fuel costs mostly natural gas and coal will lower the average residentiall bill next yearby $17, so its request actuallyy won’t raise anyone’s bill. FPL has arguexd that its proposal, if approved by the , will decreas the typical billby $5 monthly or 4 percent startingy on January 2010. But Kelly and othersd said Thursday morning that fuel prices arenot predictable. Kelly argues the rate increase wouled guarantee a return on investmentof 12.
5 percent for the and that every one percenty represents $130 million. “That is just too much Maybe five years in the future we will have aflourishinb economy,” Kelly said, adding that his officed supports a return of 9.5 or 10 percent. According to FP&L has already acknowledgec they over-collected $1.25 billion from rate-payerz for depreciation. In opening remarks, Marlene the utility’s vice president of customer service/sale s and marketing, said customers benefig from the utility’s strong financialp position. “When we save on financing, our customers save on our she said.
But speaker aftetr speaker said the grimeconomyy – foreclosures, unemployment and droppingh home values – made this the wrony time for rate increased designed to enhance the utility’s financial position. “We douby they need any increase at allto own, operate and maintaib their system,” said Robert Sheffel Wright, an attornety with Tallahassee-based Young van who was speaking on behalf of the Florida Retailp Federation. The Public Service which regulatesstate utilities, will decid e in mid-November whether to grang FPL's request. The PSC will hold hearinge again Friday, 10:30 a.m. at the North Dade Regional Libraryin Miami; and 6 p.m.
at the Plantation City Council Chambers.