Florida Power & Light’s request to recover 2005 hurricane-related
costs should be cut by $98 million according to a Public Service Commission
staff recommendation filed Tuesday.
The 237-page non-binding recommendation is scheduled to go before the
Commission May 15 at 1:30 p.m.
utility filed a petition in January seeking to issue bonds to reimburse its
2005 hurricane season restoration costs, estimated at $826 million, in addition
to $213 million remaining to be collected for the 2004 hurricane season and
$650 million to establish a reserve for future hurricane seasons.
Based on the record evidence from three days of hearings on FP&L’s
petition, Commission staff recommends the utility be permitted to collect $728
million reimbursement for the 2005 storm season, $198 million reimbursement for
the 2004 storm season, and establish a reserve of $200 million, representing a
total reduction of $562 million from FP&L’s request.