Completing its investigation, the Florida Public Service Commission (PSC) today ordered Utilities, Inc. of Florida (UIF) to refund $165,739 with interest to two developers. The PSC found that UIF over collected “allowance for funds prudently invested” (AFPI) charges for its Lake Groves system.
“The PSC oversees utility management to track and certify compliance with Commission rules and requirements,” said PSC Chairman Art Graham. “We found that UIF’s Lake Groves system was noncompliant with our rules and ordered UIF to return to the developers what’s rightfully theirs.”
An AFPI charge allows a utility to earn a fair return on prudently constructed plants held for future use. This one-time charge is based on the number of customers to be served and the date the future customer connects to the utility’s system.
The PSC determined that UIF should have discontinued collection of AFPI charges for the Lake Groves system, which were collected during early 2017. UIF must complete the refund within 90 days of today’s Commission vote.
The PSC also investigated UIF’s Lake Utility Services water system for a similar AFPI over collection and found that there was none.
UIF, a Class A water and wastewater utility, provides service in Charlotte, Highlands, Lake, Lee, Marion, Orange, Pasco, Pinellas, Polk, and Seminole counties.
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