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Public Service Commission


NEWS RELEASE


10/22/2014 Contact: 850-413-6482

PSC Decides 2015 Cost Recovery for Florida Electric Utilities


TALLAHASSEE — Florida’s Public Service Commission (PSC) today set recovery charges beginning in January 2015 for four of Florida’s investor-owned electric utilities: Florida Power & Light Company (FPL), Tampa Electric Company (TECO), Gulf Power Company (Gulf), and Florida Public Utilities Company (FPUC). Duke Energy Florida’s recovery charges will be decided at the PSC’s Commission Conference on November 25.

By Florida Statute and established Commission policy, electric utilities may recover certain expenses from customers through cost recovery charges adjusted annually by the PSC.  Cost recovery is allowed on fuel and purchased power, capacity (including nuclear), conservation, and environmental requirements. Utilities may not, however, earn a profit on fuel charges.

The majority of the charges approved today are related to fuel and are included in the fuel charge on customers’ bills.  All other approved charges are included in the energy charge, which also includes the utilities’ base rate charge. FPL customers have a Commission-approved nuclear cost recovery amount included in the energy charge.

Including base rate changes, monthly bill charges in January 2015 for a residential customer using 1,000 kilowatt hours (kWh) are:

• FPL: The current bill of $101.51 will decrease to $99.68, a reduction of $1.83.

FPL recovery amounts include: fuel and purchased power $30.96, capacity $6.20, conservation $2.00, environmental $2.05, nuclear $0.15, and Gross Receipts Tax $2.50.

• TECO: The current bill of $109.61 will decrease to $108.47, a reduction of $1.14.

TECO recovery amounts include:  fuel and purchased power $35.59, capacity $2.04, conservation $2.55, environmental $4.08, and Gross Receipts Tax $3.13.

• Gulf: The current bill of $132.00 will increase to $139.29, a change of $7.29.

Gulf recovery amounts include: fuel and purchased power $43.69, capacity $9.16, conservation $2.59, environmental $15.92, and Gross Receipts Tax $3.48.

• FPUC Northwest Division: The current bill of $133.31 will increase to $141.10, a change of $7.79.

Northwest Division recovery amounts include: fuel and purchased power $102.90 (includes capacity), conservation $1.07, and Gross Receipts Tax $3.53. 

• FPUC Northeast Division: The current bill of $125.47 will increase to $141.10, a change of $15.63.

Northeast Division recovery amounts include: fuel and purchased power $102.90 (includes capacity), conservation $1.07, and Gross Receipts Tax $3.53. 

For additional information, visit www.floridapsc.com.

Follow the PSC on Twitter,@floridapsc.



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