Will the PSC Enable More FPL Greed? Updated Information re: FPL service hearings & Rate Hikes


Our sincere thanks to Stop Smart Meters Florida (http://www.stopsmartmetersfl.org/) for providing the following information, which we have modified slightly:

FPL is requesting to increase rates in 2017, 2018 and 2019. These increases will bring your monthly fixed charge from $7.87 to $10.30, a 31% increase. The non-fuel kilowatt charge is expected to increase 25% for the first 1000 KwH, and 19% for KwH over 1000. These increases do NOT include fuel charges.

If global elites drive gas and oil prices back up again — which is likely to happen — your fuel charges could double.

FPL is currently allowed, under the 2012 Order, to earn 10.5% (+/- 1%) after tax profit. For the last 3 years, they have earned the upper limit (2015 – 11.5%, 2014 – 11.5%, 2013 – 11.06%). This indicates their current rates are healthy. As the Retail Federation Assoc. speaker told us, FPL’s request amounts to a 18.7% profit before taxes (outrageous), while the OPC’s recommendation would give them 14.4% before tax profit (more than adequate).

FPL has benefited through this unprecedented financial crisis since 2008 while all others have sacrificed. All key financial rates – 10 yr Treasury rate , Prime rate, etc, and especially the rates you receive on your money – have taken a SIGNIFICANT hit, decreasing dramatically. FPL’s return on equity has INCREASED dramatically during this period. Why are they immune?

FPL’s parent, NextEra Energy (NEE) is significantly out-performing its peers. Their 10-year Total Shareholder Return is 250% versus the S&P Electric Utility Index of 94%, per their recent SEC proxy filing.

Suggested points for FPL customers regarding Smart meters:

[1] PSC disallowance of testimony during the 2012 service hearings was improper,
[2] In light of the NTP study just released (see: http://www.bioinitiative.org/cell-phone-radiation-study-confirms-cancer-risk/ and https://www.rfsafe.com/smartphones-cause-cancer-u-s-government-expected-advise-public-health-risk/ and https://smartgridawareness.org/2016/05/25/radiofrequency-radiation-boosts-cancer-rates-in-animals/), the Commission should re-evaluate its smart meter policies for all Florida utilities,
[3] FPL smart meter opt out fees should be rescinded, and
[4] Analog meters should be provided upon request.

FPL has caused environmental damage to our drinking water (see http://www.miamiherald.com/news/local/environment/article73233802.html and ratepayers should not pay for the clean up. The Turkey Point Nuclear Plant expansion should be put on hold.

The remaining service hearings schedule is below. We hope the remaining hearings can get better attendance.

FPL remaining service hearing Meetings will be as follows:

Wednesday, June 15, 2016 at 6:00 p.m.
Solid Waste Authority of Palm Beach
7501 North Jog Road
West Palm Beach, FL

Thursday, June 16, 2016 at 9:30 a.m.
Brevard County Governmental Center
Commission Room, Building C, 1s Floor
2725 Judge Fran Jamieson Way
Melbourne, FL 32940

Thursday, June 16, 2016 at 6:00 p.m.

Museum of Arts and Sciences
352 S. Nova Road
Daytona Beach, FL 32114

Monday, June 27, 2016 at 6:00 p.m.
Miami-Dade County Auditorium
2901 West Flagler Street
Miami, FL 33135-1300

Tuesday, June 28, 2016 at 9:30 a.m.
County Commission Chambers
Broward County Governmental Center
115 S. Andrews Avenue
Ft. Lauderdale, Florida 33301

Tuesday, June 28, 2016 at 5:00 p.m.
South Regional/Broward College Library
7300 Pines Boulevard
Pembroke Pines, FL 33024

Wednesday, June 29, 2016 at 9:30 a.m.
Florida Memorial University
Lou Rawls Auditorium
15800 N. W. 42nd Avenue
Miami Gardens, FL 33054

This entry was posted in PSC Corruption and tagged . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *