The Florida Public Service (PSC) today approved a reduction in fuel and nuclear cost recovery charges for Progress Energy Florida (Progress Energy) customers. Residential customers’ bills will decrease about $15 per month beginning with the first April billing cycle.
Based on Progress Energy’s revised fuel forecast, the approved fuel cost reduction is a result of a decrease in the cost of natural gas, a primary fuel the company uses to generate electricity. Residential customers using 1,000 kWh will see a $6.90 decrease in their monthly fuel charge.
A reduction in nuclear cost recovery charges was approved as a result of Progress Energy’s request to defer recovery of some of this year’s preconstruction costs for its Levy County nuclear plant. Residential customers using 1,000 kWh will see a $7.80 reduction in their monthly energy charge.
“We have a responsibility to keep electric service affordable for Florida’s residents, while also making sure service is reliable,” said PSC Chairman Matthew M. Carter II. “As part of the cost recovery process, the Commission monitors cost projections to make sure that they track the actual preconstruction costs incurred by the utility.”
To help customers conserve energy, the PSC has several publications on its Web site at www.floridapsc.com. Florida’s investor-owned electric utilities also offer free home energy and business energy audits, and customers can take advantage of their utilities’ energy efficiency programs.
The PSC is committed to making sure that Florida’s consumers receive their electric, natural gas, telephone, water, and wastewater services in a safe, affordable, and reliable manner. The PSC exercises regulatory authority over utilities in the areas of rate base/economic regulation; competitive market oversight; and monitoring of safety, reliability, and service.
For additional information, visit www.floridapsc.com.