The Florida Public Service Commission (PSC) today modified an existing Economic Development Rider (EDR) and approved a new one for Florida Power & Light Company (FPL). FPL customers will benefit from the energy discount programs that will also help sustain economic investment, grow manufacturing, and create jobs for Florida.
FPL’s modified Economic Development Rider (EDR) will encourage a wider base of commercial customers to expand or locate new businesses to communities served by the utility. The newly approved Existing Facility Economic Development Rider (EFEDR) will encourage commercial and industrial customers to locate new or expanded businesses in existing vacant facilities.
“These economic development tools assist companies by providing additional jobs and strengthening Florida’s economic base,” said PSC Chairman Art Graham. “Both riders help companies save money when they’re investing in the community or when they’re in a startup phase. When businesses thrive, Florida thrives, which is good for everyone.”
In the past, to qualify for the EDR, companies had to increase their electrical load demand by at least 5,000 kW of load to FPL’s system. The amendment reduces the required level of increased load to 350 kW. The new qualifying minimum load will open the rate to a much broader range of potential customers and aid in attracting new economic development. Additionally, at the current 5,000 kW minimum load level, commercial and industrial customers had to add 375 employees to meet minimum qualifications for the new rate. With the EDR’s amendment, just 10 new employees are required per 350 kW of added load through June 1, 2013; after that the requirement is 25 new employees per 350 kW.
FPL’s new EFEDR, designed to target the re-use of existing facilities, will be available to customers adding new load in existing commercial or industrial space that has been vacant for six months. As with the amended EDR, service under the EFEDR will be available for customers adding at least 350 kW of new load. Through June 1, 2013, commercial and industrial customers must create at least 10 full time jobs per 350 kW. After that, the employment requirement increases to 25.
For additional information, visit www.floridapsc.com.
Follow the PSC on Twitter, @floridapsc.