FPL rate hike case kicks offby Dara Kam | January 13th, 2010
The Florida Public Service Commission will spend the day deciding on how much – if any – Florida Power & Light Co. deserves of the $1.2 billion rate hike it seeks.
Today’s proceeding, expected to last until this evening, began with a discussion from Commissioner Nathan Skop about the Juno Beach-based utility’s requested 12.5 percent return on equity – profitability to shareholders – and how much money that would require for customers to pay.
Watching the debate today are a group of AARP seniors who traveled to Tallahassee from Daytona Beach. AARP opposes the rate hike.