TALLAHASSEE, Florida — The Public Service Commission on Thursday unanimously approved a Florida Power & Light Co. rate hike settlement, allowing the utility to collect an additional $6.9 billion over four years.
Details: Despite the unanimous vote, some commissioners said they had concerns about the proposal that includes raising the utility’s return on equity, establishing an accounting mechanism that FPL says will allow it to avoid new rate requests in the next four years and backing for the utility’s continued solar expansion.
And they were concerned that the settlement, which includes large industrial and commercial business groups, does not include the Office of Public Counsel, which represents utility customers in rate cases.
“It is not the dream settlement, but it is the one that is before us,” Commissioner Art Graham said during the meeting before the vote.
