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NEWS RELEASE


04/03/2006 Contact: 850-413-6482

PSC Moves to Intervene in FP&L Group Merger


TALLAHASSEE — The Florida Public Service Commission moved to intervene in a federal proceeding Monday regarding a proposed merger between FPL Group, Inc. and Constellation Energy.

FP&L Group is the parent company of Florida Power & Light, Inc., the state’s largest retail electric provider with more than 4 million customer accounts.

“Intervention is the best way to monitor proceedings before the Federal Energy Regulatory Commission (FERC) so that Florida’s ratepayers are not adversely affected by this merger,”  Commission Chairman Lisa Polak Edgar said. “This will allow the Commission to tap into the huge flow of information between the companies and the FERC and gain additional information as to the potential impact to FP&L customers and to Florida.”

 By intervening in the FERC proceedings, the agency will have the ability to scrutinize confidential documents filed in connection with the merger to independently verify  assertions that the proposed merger holds no surprises for Florida customers.  Should questions emerge from the filings, the PSC as an intervener could address those issues before the FERC. 

The proposed merger was filed February 9, 2006, with a request for approval by June 15, 2006.

 

 

 

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