Florida’s Public Service Commission (PSC) today approved revised fuel and purchased power charges for Florida Public Utilities Company (FPUC). The adjustment applies to FPUC’s Northeast Division (Fernandina Beach) only.
The PSC reviews utilities’ projected fuel costs annually in November and determines the prudent fuel costs that will be passed on to customers. If actual fuel costs are substantially different from projected fuel costs, a utility can request a mid-course adjustment, as did FPUC.
Investor-owned utilities are allowed to recover only the prudent costs of procuring fuel and purchased power necessary to meet customer demand and are not allowed to make a profit on fuel purchases. The fuel charge appears on customer bills as a separate line item charge.
“Fuel costs and purchased power charges represent over 50 percent of a typical residential electric bill,” said PSC Chairman Matthew M. Carter II. “The PSC offers information and tips to help residents conserve energy and better manage their monthly bill, even with increased fuel prices, through our Web site, www.floridapsc.com.”
Based on the adjusted fuel charges, the total monthly electric bill for residential customers using 1,000 kwh will increase from $122.39 to $129.99, beginning with the April billing cycle.
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 monitors safety, reliability, and service.
For additional information, visit www.floridapsc.com.