Fpl Settlement Agreement

The Florida Public Service Commission has approved a four-year global phased comparison agreement, jointly developed by the FPL, the state`s Office of Public Counsel and major client representative organizations, and is expected to keep typical FPL bills lower than those of 2006 until at least the end of 2020. The negotiated agreement builds on two previous revenue equity agreements, which include base rate reductions and a revenue equity reimbursement mechanism, which have saved customers a total of approximately $4 billion since 1999. Like the current agreement, it provides for a refund to customers when FPL`s total annual turnover exceeds certain thresholds. Repayments from previous agreements totalled $225 million, out of a total saving of $4 billion. JUNO BEACH, Fla. – Florida Power & Light Company, the main subsidiary of FPL Group, Inc. In the first base interest rate increase since 1985, the FPL followed a regulatory process as described by the SPP. . .

.