You would think that $1.65 billion dollars would be enough profit for Florida Power and Light (FPL) – Florida’s biggest power company. Yet, it recently proposed a 24% rate hike on customers that includes a request for an additional $240 million dollars in pure profit. A series of public hearings on the FPL rate hike recently concluded in south Florida – and sparks flew.
Make your voice heard at upcoming rate increase public hearings for FPL — FPL states in its request to the PSC that its shareholders deserve to be rewarded extra for providing superior customer value and wants to increase its shareholder profit from 10.5% to 11.5%. Since this is a “midpoint” profit target, shareholders could end up earning up to 12.5% profit (11.5% plus or minus 1%). By the way, FPL had a net income (profit) last year of $1.65 billion. While the Company has a right to make money, it also has an obligation to be a good partner with its customers. Check out the dates below for the scheduled public hearing in your community.
Hey FPL customers – You’ll have a rare opportunity in June to have your voices heard – don’t miss it! The Florida Public Service Commission (PSC) – the agency charged with regulating the state’s biggest power companies, including Florida Power & Light (FPL) – will be in your community to get your take on whether FPL [...]
Want to know the best-kept secret in Florida about one of the biggest barriers holding back meaningful solar development? It’s not the lack of sunshine – Florida has best solar resource east of the Mississippi. So, what is it you ask? Taxes – really burdensome taxes whose impact drives up the cost of solar power. [...]
Solar advocates likely came one step closer yesterday to allowing third party retail solar sales in Florida. The Floridians for Solar Choice (FSC) legal team went before the Florida Supreme Court to gain its approval to have the solar choice question placed on the 2016 ballot. After yesterday’s oral argument, solar choice supporters have reason [...]
The Florida Supreme Court ruled today that a deal struck between industrial users and the states biggest power company, FPL, and approved by the Florida Public Service Commission (PSC), could move forward. The deal was approved by the PSC in 2012 over the strenuous objection of the Office of Public Council (OPC) – the state office [...]
In a recent blog post, I questioned FPL’s leadership on solar power and the scale and design of a recently announced voluntary “community-based” solar program. In a response letter, the Company took offense to the blog – calling it misleading. Let’s take a closer look at some of the Company’s responses to the blog and come [...]
There has been a lot of attention paid to climate change impacts to Florida in the past month, including the record rain storms that resulted in the declaration of a state of emergency in dozens of panhandle counties, Senator Bill Nelson’s special climate hearing in Miami, and of course the just-released National Climate Assessment, which [...]
I live and work in south Florida and have been a clean energy advocate for well over a decade. During that time, Florida’s families and businesses have overwhelmingly supported more solar power in Florida’s energy mix. Yet, the Sunshine State’s elected leaders and biggest power companies have failed to deliver on the desire for more [...]
A report released today by a non-profit watchdog group, Integrity Florida, concludes that hefty political contributions by the state’s biggest power companies and their army of lobbyists have helped advance the interest of the companies’ shareholders to the detriment of customers. The report finds that the power companies have contributed more than $18 million to [...]