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NEWS RELEASE


06/14/2005 Contact: 850-413-6482

PSC Staff Recommends Cutting Progress Storm Request By More Than $26 Million


TALLAHASSEE — Staff of the Florida Public Service Commission will recommend paring more than $26 million from Progress Energy Florida’s request to recover 2004 hurricane damages when the Commission meets June 21.

In a non-binding recommendation filed Tuesday, the Commission’s staff outlines reductions in payroll costs, advertising and public relations charges, vehicle and tree trimming expenses that the utility is seeking to recover from its customers through monthly surcharges on customer bills.

Progress filed a petition in 2004 contending that its electric distribution system was affected to some degree by all four of the hurricanes that made landfall in Florida in 2004.  As a result, the utility claimed, it experienced $366 million in total damages, $252 million of which it contended was recoverable from rate payers.

The PSC staff recommendation will be considered by the Commission at its regularly scheduled Agenda Conference meeting June 21, during which it may accept, reject or modify the recommendation.

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