Two Fla. Power Giants Want Rate Hikes
Florida’s two biggest power companies want to dig deeper into your pockets.
Florida Power and Light and Progress Energy are both asking for rate hikes that would push their earnings above the national average, according to the Capitol News Service.
FP&L makes just under 11 percent. Progress Energy, about 10 percent. Both want a raise, and the cost to consumers would be anywhere between $13 and $15 a month for an average customer.
At public hearings across the state, consumers are telling regulators they can’t afford any more hikes.
“I just don’t feel financially this is the time when we’re close to a 10-percent unemployment rate in this country," said Progress customer Jacqi Sulek. "People are taking pay cuts, people are losing their jobs.”
Nationally, utilities are allowed average earnings of just over 10 percent on their investment.
If the power giants get everything they’re asking for, their profit will be about 2.5 percent above the national average," according to the news service.
A decision on both rate hikes is due before Christmas, so any higher charges can start showing up on January’s bill.
Six million electric customers are facing rate hikes. The formal FPL rate hike hearing begins in August, while Progress Energy’s starts in late September. Five more public hearings are scheduled for this week and next:
9 a.m.-12 p.m.
Pinellas County Board of Commissioners Assembly room
9 a.m.-12 p.m.
Citrus Count Auditorium
Ocala City Council Chambers
Apalachicola Community Center
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