FPL seeks rate trim before hike

Increase might follow savings

Florida Power & Light is seeking a rate decrease beginning in April, thanks to anticipated savings from a new power plant and lower natural gas prices.

The decrease would trim $1.65 off a typical 1,000-kWh residential customer’s monthly bill, the utility said in a news release Tuesday. If approved by the Florida Public Service Commission, it would be the fourth decrease in 16 months. Together, those decreases would amount to a $10 savings for that typical customer, the utility said. Business customers also would see rate reductions ranging from 2 percent to 7 percent.

The rate decrease stems from “anticipated savings from increased fuel efficiency and lower projected natural gas prices” and would take effect on April 1, the same day as the utility’s new high-efficiency natural gas plant — called FPL Port Everglades Next Generation Clean Energy Center— begins operation, the utility said.

Yet the savings will go away over the next four years if state regulators approve a separate request by the utility for yearly rate increases thatwould add $14 a month to that typical bill. Those increases, announced twoweeks ago, are needed to pay for nearly $16 billion in investments to improve electric service reliability, the utility said. State regulatorswill consider that request when it’s filed in March.

Even with the increases, FPL says typical bills in 2020 will still be lower than theywere in 2006.

rhurtibise@tribpub.com, 954-356-4071