« Census: 23 percent of all Florida children live in poverty | Main | Miami-Dade legislator finds UM move 'extremely troubling' »

FPL seeks even lower fuel costs for net savings to customers in January

Florida Power & Light Co. is asking state regulators to lower customer electric bills because of a lower-than-expected fuel costs for 2012.
 
The bottom line, if approved by the Public Service Commission, will be a $1.92 drop in the current residential monthly bill for 1,000 kilowatt hours of electricity -- from $96.54 to $94.62. That includes a monthly drop of $4.53 for fuel.
The savings in fuel costs will be offset in part by increases in other parts of the monthly bill, including  increases of $1.52 for nuclear costs, $.52 for environmental costs, $.43 for energy conservation costs and $.23 in the base rate.
 
The Public Service Commission earlier this month approved a $2.61 fuel charge increase for FPL customers using 1000 kilowatt hours a month in 2012, but the company said Monday that because of falling natural gas prices, it will need $1.87 per month for every 1,000 kilowatt hours, or $460 million less than previously expected for fuel.
"For 2012, oil prices are still high, but our investments in recent years to modernize our power plant fleet – phasing out older, oil-fired units with cleaner, more efficient natural gas-fired generating capacity – are helping protect our customers from higher fuel charges," FPL President and CEO Armando J. Olivera. "At the same time, market prices of natural gas for 2012 are trending even lower than previously expected, and this is driving a significant reduction in our projected fuel costs for the coming year.”

The Juno Beach-based company serves 4.5 million homes, businesses and other customers in South Florida.

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

alex

Good PR move by FPL, but one has to wonder if this is a pretext for raising rates again next year?

The comments to this entry are closed.