FP&L rate hike request called

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Representatives from those agenciesblasted FP&L’s rate increase at a publiv hearing Thursday morning in Fort In the first hour and a half of the only opposition was expressed. “We believe the amountt they’re asking for is It’s just too much to ask for in today’ economic times,” said J.R. Kelly, public counsel with the Floridaw Office of Public TheJuno Beach-based utility is struggling to make the case that it is alreadh the most efficient utility in the state, and it wouldc use additional funding to reinvesf in greater efficiency.
It has askedc for approval of an increase to its base rate that woulcd raise the average residentialbill – 1,000 kilowatt hourss – by $12 per month. FP&Lk projects that lower fuel costs mostly natural gas andcoal – will lowedr the average residential bill next year by $17, so its requesy actually won’t raise anyone’s bill. FPL has argued that its proposal, if approvecd by the , will decrease the typical billby $5 monthlyu or 4 percent starting on January 2010. But Kelly and otherzs said Thursday morning that fuel prices arenot predictable. Kelly argues the rate increase would guarantee a return on investmentof 12.
5 percent for the and that every one percenty represents $130 million. “Thaft is just too much Maybe five years in the futurew we will have a flourishing Kelly said, adding that his office supports a returhn of 9.5 or 10 percent. Accordin to Kelly, FP&L has already acknowledgedr they over-collected $1.25 billion from rate-payers for In opening remarks, Marlene Santos, the utility’s vice presidenr of customer service/sales and said customers benefit fromthe utility’a strong financial position. “When we save on financing, our customere save on our bills,” she said.
But speaker aftet speaker said the grimeconomy – foreclosures, unemploymen and dropping home values – made this the wrongt time for rate increases designed to enhance the utility’s financiao position. “We doubt they need any increase at allto own, operated and maintain their said Robert Sheffel Wright, an attorney with Tallahassee-based Young van who was speaking on behalf of the Floridaw Retail Federation. The Public Service Commission, which regulatea state utilities, will decide in mid-November whether to grant FPL's request. The PSC will hold hearingsd again Friday, 10:30 a.m. at the North Dade Regional Libraryin Miami; and 6 p.m.
at the Plantatiob City Council Chambers.