TALLAHASSEE, Florida — Florida’s Public Service Commission said Tuesday it would keep the current framework of incentive mechanisms that the state’s investor-owned utilities are allowed to pursue.
The commission voted unanimously to close out a review of “asset optimization programs.” Under the program, utilities like Florida Power & Light, Duke Energy and Tampa Electric Co. are allowed to engage in incentive mechanisms — such as selling or purchasing wholesale energy — designed to reward companies for improving performance while financially benefiting customers.
Yet each utility has its own specific set of allowable activities and revenue-sharing thresholds, leading the PSC to explore whether all companies should be required to follow the same plan. The commission’s decision comes as voters nationwide grow increasingly concerned about energy costs while utilities face rising scrutiny on their profits.
“I do realize that this program was designed to benefit customers,” Commissioner Gary Clark said. “It does have a mechanism for the companies to make money, but part of that is the incentive for them to be able to go out and find those assets that they can optimize to give the additional funds for both the parties. Other than this program, there’s no incentive to do that.”
