The Florida Public Service Commission unanimously voted on Wednesday to
accept a settlement agreement in a pending Florida Power and Light (FP&L)
Under the settlement, FPL agrees to withdraw its request to increase
base rates $430 million on Jan. 1, 2006 and continues a revenue sharing plan,
which may result in refunds to consumers. During the period of the agreement, FPL
would be able to recover the cost of new power plants through adjustments to base
rates upon date of commercial operation.
FPL serves approximately 4.2 million retail customers in its service
area in Florida. Its service area is comprised of approximately
27,000 square miles in 35 of the state’s 67 counties, encompassing the cities
of Daytona Beach, Fort Lauderdale, Fort Myers, Miami, Naples, and West Palm
Beach and other densely populated areas on the east and west coasts of Florida.
FPL also serves a number of less densely populated areas, including all or
portions of Martin, Saint Lucie, Indian River, Brevard, Charlotte, Desoto,
Columbia, Highlands, Okeechobee, Seminole, and Union Counties.