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FPL Will Raise Rates, Without PSC Approval

September 26, 2009

FPLImpatient with delays by the Public Service Commission, Florida Power & Light plans to institute their requested rate hike of more than $900 million without waiting for the PSC to vote.

As the Palm Beach Post reports,”Florida law allows the utility to implement the rate hike without the regulatory panel’s approval, but FPL would have to refund the difference to customers if the PSC authorizes a smaller increase. The regulatory board’s final decision is now scheduled for Jan. 11 because the rate case has run into overtime.”

PSC Chairman Matthew Carter today refused to grant FPL’s requests from earlier this week to make a decision by Dec. 4.

Instead, the PSC will keep its schedule of finishing its hearing Oct. 21-23, voting Dec. 21 on the total amount FPL can collect and voting Jan. 11 on how that increase will affect different types of customers, such as homeowners and businesses.

The Juno Beach-based company’s proposal would allow it to charge customers an extra $900 million a year beginning in 2010 and another $400 million a year beginning in 2011.

FPL to implement $900 million rate hike before PSC vote [Palm Beach Post]

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