MARK SCHUMANN

In a January 15 letter to the Chairman of the Florida Public Service Commission, Florida Power & Light President and CEO Eric Silagy revealed FPL’s plans to seek approval for $1.325 billion in base rate increases from 2017 through 2019.

If approved by the PSC, FPL’s base rates will rise $860 million in 2017, $265 million in 2018 and $200 million in 2019. According to Silagy’s letter, the base rate for 1000 kWh per month will increase $8.50 in 2017, with further increases of $2.50 in 2018 and $2 in 2019.

FPL’s base rate increase should, Silagy’s letter indicated, should improve the company return on investment from 11 percent to 11.5 percent. The proposed base rate increased, totaling $13 per kWh over three years, does not include other possible adjustments to FPL’s Fuel Recover Charge, Nuclear Cost Recovery Charge, Capacity Cost Recovery Charch, Environmental Cost Recovery Charge, or Energy Cost Recovery Charge.

The following in an excerpt from Silagy’s letter to PSC Chairman, Julia Brown.

While informing the PSC of its plans to seek base rate increases of more than $1 billion, FPL is running advertising touting low rates.  The following is a screen shot taken this morning from TCPalm.com.