PSC considering Fla. Power & Light rate proposal
State regulators are holding a hearing on a proposed Florida Power & Light Co. rate settlement opposed by the state's consumer advocate.
The Public Service Commission has scheduled three days for the hearing in Tallahassee starting Monday.
Public Council J.R. Kelly says the settlement between Florida's largest electric utility and industrial, health care and federal agency customers is a bad deal for other consumers.
That's because it includes elements not in FPL's original request to raise base rates by $690.4 million per year effective in January.
The proposal would increase rates by only $378 million in 2013, but Kelly says they'd go up by more than $1 billion annually by the end of the four-year agreement.
FPL contends it would be in the best interest of all customers.
Copyright 2012 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.