JIM TURNER/THE NEWS SERVICE OF FLORIDA
A request for $1.3 billion in base-rate hikes is “driven by investment and infrastructure” rather than profit as critics claim, the president of Florida Power & Light told regulators Monday during the opening of an expected two-week hearing on the proposal.
Eric Silagy, president and CEO of the Juno Beach-based utility, defended the request to the Florida Public Service Commission as a way to maintain the company’s “stability and predictability” while making improvements that include increased use of solar power.
“Ultimately, these are going to end up providing savings for customers,” Silagy said.
But the company’s proposal has met stiff opposition from representatives of consumers and some business groups. Patricia Christensen, an attorney with the state Office of Public Counsel, was among the critics telling the commission that the four-year request is “unjustifiable.”
Editor’s note: That FPL is seeking a $1.3 billion rate increase may be news to many Treasure Coast readers. Though announced by FPL early this year, the utility giant’s proposed rate hike has yet to be reported by the Press Journal and its sister newspapers to the south.
We know there are many factors in price increases – especially in gasoline prices and cost of energy for electric power. BUT where does it level off? Apparently in 2020…unless by that time there will be other reasons for more increases…..from FPL.