FP&L rate hike request called

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Representatives from those agenciesblasted FP&L’s rate increase at a publicf hearing Thursday morning in Fort In the first hour and a half of the hearing, only opposition was expressed. “We believe the amount they’res asking for is excessive. It’s just too much to ask for in today’ s economic times,” said J.R. Kelly, publi c counsel with the Florida Office ofPublic Counsel.
The Juno Beach-basedd utility is struggling to make the case that it is alreadg the most efficient utility in the and it would use additional funding to reinvest in greater It has asked for approvak of an increase to its base rate that woulsd raise the average residentialbill 1,000 kilowatt hours – by $12 per FP&L projects that lower fuel costs – mostly natural gas and coal will lower the average residentia l bill next year by $17, so its requesf actually won’t raise anyone’x bill. FPL has argued that its proposal, if approved by the , will decreases the typical billby $5 monthly or 4 percentr starting on January 2010.
But Kelly and otherse said Thursday morning that fuel prices are not Kelly argues the rate increase would guarantee a returjn on investmentof 12.5 percent for the utility, and that everh one percent represents $130 “That is just too much today. Maybe five years in the future we will have aflourishin economy,” Kelly said, adding that his officse supports a return of 9.5 or 10 percent. Accordinfg to Kelly, FP&L has already acknowledgedc they over-collected $1.25 billion from rate-payers for In opening remarks, Marlene Santos, the utility’s vice president of custome r service/sales and marketing, said customers benefi from the utility’s strong financial position.
“When we save on our customers save onour bills,” she But speaker after speaker said the grim economy – foreclosures, unemployment and droppingv home values – made this the wrong time for rate increasesd designed to enhance the utility’s financiak position. “We doubt they need any increase at allto own, operatde and maintain their system,” said Roberft Sheffel Wright, an attorney with Tallahassee-basecd Young van Assenderp, who was speaking on behald of the Florida Retail Federation. The Public Service which regulatesstate utilities, will decided in mid-November whether to grant FPL's request. The PSC will hold hearingd again Friday, 10:30 a.
m. at the Northh Dade Regional Libraryin Miami; and 6 p.m. at the Plantationb City Council Chambers.