The Florida Public Service Commission (PSC) today reduced 2012 fuel charges approved at the November cost recovery hearing for Florida Power & Light Company (FPL) by $4.53 for a residential customer using 1,000 kilowatt hours (kwh), effective in January. Coupled with other recently approved billing changes, the reduced fuel charge will decrease an FPL customer’s total 1,000 kwh bill by about $2, from $96.54 to $94.62.
“Fuel costs represent about 36 percent of a typical FPL residential customer’s electric bill,” said PSC Chairman Art Graham. “The Commission’s authority to review utilities’ requests for fuel cost adjustments, especially when they notice a reduction in their projected costs, helps protect consumers’ bills year-round.”
Typically, the PSC reviews and determines fuel charges annually in November to reflect changing fuel costs. FPL requested a mid-course fuel charge adjustment due to lower actual fuel costs for 2011 and lower projected natural gas prices for 2012. Florida’s investor-owned utilities are not allowed to earn a profit on the cost of fuel to generate electricity.
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