PSC Approves Reductions to FPL, DEF Fuel Costs

FPL requested PSC approval to reduce customer rates to reflect lower projected natural gas prices and to coincide with the in-service date of its new Port Everglades Next Generation Clean Energy Center next month. The approved adjustments save customers $1.65 a month on a 1,000-kilowatt hour (kWh) residential bill compared to current rates.

DEF’s fuel cost reduction is also primarily due to lower projected natural gas prices.  Residential bills will decrease by $5.83 per month, from current rates, beginning in April for a 1,000 kWh monthly electric bill. 

The fuel and capacity cost component of customers’ bills is set for each calendar year, but mid-course corrections are used when a utility’s costs increase or decrease significantly in the interim.  Under Commission rules, a utility must notify the PSC when it expects an under- or over-recovery greater than 10 percent, although lesser mid-course corrections are allowed.
 
FPL’s and DEF’s current fuel factors were set by the PSC during the November 2015 cost recovery clause hearing. 
 
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