FPL Storm Costs Teed Up

Article reposted with permission from The News Service of Florida.

Florida Power & Light should be able to recover about $1.2 billion from customers to cover costs of restoring power after hurricanes Debby, Helene and Milton and to replenish a storm reserve fund, state Public Service Commission staff members recommended Thursday. The regulatory commission is scheduled to take up FPL’s request during a Dec. 3 meeting. FPL wants to recover the costs from customers over a 12-month period starting in January. The commission in the past has regularly approved such costs, which are essentially a temporary add-on to customer bills. Utilities typically use as a benchmark residential customers who consume 1,000 kilowatt hours of electricity a month — though actual electricity use varies widely. FPL also has differing rates based on whether customers are in the utility’s traditional service area or a Northwest Florida area that was part of a purchase of the former Gulf Power. Under FPL’s proposal, which was filed Oct. 29, customers in the traditional service area who use 1,000 kilowatt hours of electricity would see their monthly bills go from the current $121.19 a month to $133.99 in January. Such customers in the Northwest Florida area would see their bills go from the current $135.38 to $143.45, according to the utility. Much of the costs stemmed from restoring power after Hurricane Milton, which made landfall Oct. 9 as a Category 3 storm in Sarasota County before crossing the state. Duke Energy Florida and Tampa Electric Co. also have indicated they will seek approval from the Public Service Commission to recover hurricane-related costs.