Editor’s note: Eight days ago, Florida Power & Light President and CEO Eric Silagy revealed his company’s plans to seek significant rate hikes over the next several years. The story has been reported statewide, but not in Indian River, St. Lucie and Martine Counties, where Treasure Coast Newspaper, which publishes the Stuart News, Fort Pierce Tribune and Indian River Press Journal, seems to have imposed a news blackout on the story. (Treasure Coast Newspapers publisher, Bob Brunjes, is married to FPL’s vice president of external affairs, Amy Brunjes.) 

Among news organizations reporting on FPL’s proposed $1.325 billion rate hike was the Naples Daily News. The News is owned by the same parent company that owns Treasure Coast Newspapers. 

Below is a sampling of reporting on FPL’s proposed rate hike from across the state. 

FPL seeking rate increase over four years that would cost typical customer about $14 a month

AREK SARKISSIAN/NAPLES DAILY NEWS

TALLAHASSEE — The utility company that provides power to the majority of Florida communities is seeking approval from the state Public Service Commission for a four-year funding package that would increase customers’ utility rates on average by about $14 a month.

Florida Power and Light notified the Public Service Commission on Friday that it will file a proposal in March that would ask to increase the monthly charge on a typical customer using 1,000 kilowatt hours from $93 to $107. Customers would see three base rate increases during the period — a jump of about $8.50 in 2017, about $2.50 in 2018 and then about $2 in 2019, according to a news release. An additional increase of $1 a month would pay for fuel costs, FPL spokeswoman Sarah Gatewood said. Continue reading…

 

FPL asks state to approve 24 percent rate increase and higher profit margin

“The request comes on the heels of the company spending more than $3.4 million in campaign funds to stave off competition from the solar industry by mounting a campaign to keep a constitutional amendment off the November ballot that would have opened the door to a competitive solar market in Florida.”

MARY ELLEN KLAS/TAMPA BAY TIMES

Florida Power & Light on Friday asked the Public Service Commission to allow it to raise rates on 4.8 million Florida customers by 23.7 percent by 2019, a $1.3 billion increase that is also designed to reward its shareholders with substantially higher profits.

FPL argues that while it has delivered stable and low-cost power to customers since its last rate case in 2009, it must charge customers more to offset the increase in expenses and accommodate the growth in population. Continue reading…

FPL rate hike request a real jolt

MICHAEL MAYO/FT. LAUDERDALE SUN SENTINEL

Florida Power & Light has been busy tooting its horn lately, running ads about electric bills being lower today than 10 years ago. That’s wonderful, but the utility apparently can’t abide the situation because it has submitted a hefty rate hike request to state regulators.

The proposed rate increase seems excessive, considering FPL is a monopoly with a captive customer base that keeps growing. It’s all the more galling considering the utility’s profit has nearly doubled over the last decade.

FPL’s profit soared from $802 million in 2006 to $1.52 billion in 2014 (the last full year reported). That’s a 90 percent increase. Continue reading…

FPL proposes 15 percent rate increase over next four years

JOHN ENGLE/WOKV NEWS

Florida Power & Light has proposed an eventual rate increase of $13 a month for its customers, which includes 109,000 people on the First Coast.

The proposal made to the Florida Public Service Commission comes days after JEA announced decreasing rates for customers starting February. Rates would increase three times, incrementally, from 2017 to 2020. Continue reading…

FPL wants to increase electric rates 24 percent

DENNIS MALEY/THE BRADENTON TIMES

Florida Power & Light asked the Public Service Commission on Friday to allow them to raise rates on 4.8 million Florida customers. The increase would amount to 23.7 percent by the year 2019, for a $1.3 billion jump in all.

FPL says that while it has delivered stable and low-cost power to customers since its last rate increase (2009), it is necessary to again charge customers more in order to offset increases in expenses and accommodate population growth in the state. Continue reading...