Florida Power & Light (SOURCE: FPL) The state Public Service Commission should approve a proposal that would reduce Florida Power & Light (FPL
The state Public Service Commission should approve a proposal that would reduce Florida Power & Light (FPL) customer bills because of lower-than-expected fuel costs, commission staff members recommended Thursday.
Last week, FPL filed a proposal that would save customers about $662 million. If the proposal is approved, the savings would start showing up in customer bills in May and continue through December.
The commission is scheduled to discuss the issue during an April 2 meeting. The proposal stems from lower-than-expected natural gas costs, which are used heavily to fuel power plants in Florida.
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Each fall, the commission approves projected fuel costs for the following year. Still, utilities can seek what is known as a “mid-course correction” if fuel costs vary significantly from the projections.
“FPL’s 2024 fuel-related revenue requirement has decreased substantially since the filing of its last cost projection in September 2023,”
Thursday’s commission staff recommendation said utilities use a benchmark of customers who consume 1,000-kilowatt hours of electricity a month.
FPL has two sets of rates because of a merger with the former Gulf Power. Customers in the former Gulf Power territory in Northwest Florida who use 1,000 kilowatt hours a month currently pay $149.89.
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According to FPL, that will be reduced to $143.08 in April because certain storm-related costs will end earlier than planned.
If the fuel-related proposal is approved, the Northwest Florida bills will go to $135.38 in May. FPL customers in other parts of the state pay $135.69 for 1,000 kilowatt hours of electricity. That will go to $128.88 in April and would decrease to $121.19 in May under the proposal.
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