Florida’s Public Service Commission (PSC) today approved the 2009 fuel adjustment rates for Florida Power & Light Company (FPL). A decision on FPL’s fuel adjustment had been deferred from a previous hearing so that the utility could file an adjusted 2009 fuel charge projection with the Commission.
Based on the adjusted fuel charges, the total monthly electric bill for residential customers using 1,000 kwh will decrease from the current charge of $111.12 to $109.55 due to reduced fuel costs. The charges will go into effect beginning with the January 2009 billing cycle. FPL had originally asked the PSC for an increase of about $8 a month for 2009 customer bills.
The fuel adjustment charges were determined after the Commission considered the utility’s 2009 projected costs for fuel and purchased power as well as “trued up” costs for 2007 and 2008 fuel purchases.
Investor-owned utilities are allowed to recover only the prudently incurred costs of procuring fuel and purchased power necessary to meet customer demand and are not allowed to make a profit on fuel purchases. The fuel charge appears on customer bills as a separate line item charge.
The PSC is committed to making sure that Florida's consumers receive their electric, natural gas, telephone, water, and wastewater services in a safe, affordable, and reliable manner. The PSC exercises regulatory authority over utilities in the areas of rate base/economic regulation; competitive market oversight; and monitoring of safety, reliability, and service.
For additional information, visit www.floridapsc.com.