FPL will halt all projects that could have created 20,000 jobsby Dara Kam | January 14th, 2010
Florida Power & Light Co. President Armando Olivera said that utility regulators’ decision to grant the power company just $75 million of its requested $1 billion rate hike this year will cost the state 20,000 new jobs.
He accused the Public Service Commission of politicizing the proposed rate hike, eliciting this response from Commissioner Nathan Skop at the close of yesterday’s 11-hour proceedings.
“The commission’s worked hard to decide this case on the merits in a fair and impartial manner. We were very deliberate in the decisions that we made here today. The reality is that FPL is going to have to make do in difficult economic times,” Skop said. “I know that FPL today is a strong company and no doubt will be a strong company tomorrow. They have an ambitious capital program and will invest in Florida’s future and any suggestion that that should not be achievable would be a complete falsehood.”
Read the full story here.