TALLAHASSEE, Fla. — A big meeting was held Monday in Tallahassee involving the state’s largest power provider, Florida Power and Light.
Officials from FPL were asking the state to greenlight the largest rate hike in the company’s history.
The biggest takeaway from the meeting is that there is no rate hike, at least for now. Customers will keep paying what they currently pay.
However, FPL could still ask for increases in the future, as the proposed rate hike is only on hold for now.
This is all because the commission unanimously voted to suspend the current hearing schedule.
This move gives the Florida Public Service Commission flexibility to set new dates once a proposed settlement is filed and reviewed.
Until then, the technical hearings planned for later this week will not happen.
FPL originally argued it needed the nearly $10 billion rate increase to handle the influx of new customers moving to Florida.
Late last week, the utility and several large businesses announced they’d reached an agreement in principle on a four-year rate plan, prompting Monday’s decision to put the schedule on hold.
The commission says it won’t issue a new schedule until the settlement is formally filed, something expected on Aug. 20.
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