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Public Service Commission


01/11/2011 Contact: 850-413-6482

PSC Allows FPL Settlement Agreement to Maintain Earnings Compliance

TALLAHASSEE — Demonstrating confidence in the recently approved Settlement Agreement between Florida Power & Light Company (FPL), the Office of Public Counsel, and several other intervenors, Florida Public Service Commissioners (PSC) today voted to not approve a staff recommendation from October to initiate a separate earnings review.

Approved last month, the Settlement Agreement for FPL’s 2009 rate increase gives consumers rate stability, freezing base rates through 2012 and allows only selected bill charges to fluctuate, such as fuel and storm damage recovery.

Seven consumer and user groups joined FPL in signing the Settlement, including the Office of Public Counsel, the Attorney General, Florida Industrial Power Users Group, Florida Retail Federation, South Florida Hospital and Healthcare Association, Federal Executive Agencies, and Associated Industries of Florida.

The PSC facilitates safe and reliable utility services at fair prices for Florida's consumers.  Primary responsibilities include setting fair rates, encouraging competition, and monitoring for safety and reliability.

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