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Business News

Florida regulators considering FPL base rate increase

The Associated Press
Published:   |   Updated: March 13, 2013 at 05:40 PM

Regulators are considering a proposed Florida Power & Light Co. base rate settlement with three groups of commercial customers.

The Florida Public Service Commission is scheduled Thursday to vote on the proposal that's opposed by the state's consumer advocate. Public Counsel J.R. Kelly says it's a bad deal for most customers.

Over a four-year period, it would raise base rates for a typical residential customer by nearly $10 per month. Company officials say they expect overall residential bills to increase much less due to reductions in fuel charges.

Commercial customers, though, would see their overall rates go down or at least remain flat while FPL stockholders would be allowed higher returns.

FPL serves 4.6 million homes, businesses and other customers in South Florida and on the state's east coast.