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NEWS RELEASE


08/25/2005 Contact: 850-413-6482

PSC Approves FPL Settlement


TALLAHASSEE —   The Florida Public Service Commission unanimously voted on Wednesday to accept a settlement agreement in a pending Florida Power and Light (FP&L) rate case. 

Under the settlement, FPL agrees to withdraw its request to increase base rates $430 million on Jan. 1, 2006 and continues a revenue sharing plan, which may result in refunds to consumers.  During the period of the agreement, FPL would be able to recover the cost of new power plants through adjustments to base rates upon date of commercial operation.

FPL serves approximately 4.2 million retail customers in its service area in Florida. Its service area is comprised of approximately 27,000 square miles in 35 of the state’s 67 counties, encompassing the cities of Daytona Beach, Fort Lauderdale, Fort Myers, Miami, Naples, and West Palm Beach and other densely populated areas on the east and west coasts of Florida.  FPL also serves a number of less densely populated areas, including all or portions of Martin, Saint Lucie, Indian River, Brevard, Charlotte, Desoto, Columbia, Highlands, Okeechobee, Seminole, and Union Counties.

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