FPL rate hike hearing won’t finish up today
by Dara Kam | September 17th, 2009The already-into-overtime Florida Power & Light Co. $1.3 billion proposed rate hike hearing won’t finish up today as previously scheduled.
The hearing, slated to last 10 days but now on day 13, will go on for three more days next month – Oct. 21-23.
And the panel won’t vote on how much of the requested increase will be granted until Dec. 21. Then, on Jan. 11, the panel will vote on the specific rates and charges.
So how much will FPL customers’ rates go up?
They won’t. Because of lower fuel costs, electric bills will go down. The question is how much.
Customers would pay even less if the panel rejects the base rate increase.
The PSC usually grants a portion of requested rate increases. But FPL’s $1.3 billion rate hike increase – the largest ever requested in Florida and anywhere in the nation – is not the typical base rate case.
Gov. Charlie Crist threatened not to reappoint two commissioners if they vote for the rate hike.
An FPL financial consultant said yesterday that the shifting political climate under Crist could bring the state’s largest utility to its knees by damaging its ability to borrow.
PSC Chairman Matthew Carter announced the new schedule before breaking for lunch. Today’s hearing, like yesterday’s, is set to go for another 12-hour marathon run.
Tags: Charlie Crist, Florida Power & Light, FPL, PSC, Public Service Commission
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September 17th, 2009 at 2:11 pm
we’re surrounded by lying maggots wearing designer suits…
damn straight FPL executive salaries should be made public…
hell, given the monopoly and the relationship with FL gov, the salaries for executives and the board should be voted on by the public!!!!!!!
this is not free enterprise. this is institutionalized corruption to the highest levels
September 17th, 2009 at 8:31 pm
Commissioner Skop did a fantastic job describing the need for an audit of the FPL manifest. He has been outstanding in uncovering the inner workings at the PSC. He needs to be commended for a job well done.