PSC Approves Progress Energy Florida Recovery Rates
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PSC Approves Progress Energy Florida Recovery Rates
TALLAHASSEE — Florida’s Public Service Commission (PSC) today approved inclusion of $327.6 million in Progress Energy Florida’s (PEF) 2013 fuel factor projections for potential insurance recoveries related to the utility’s delamination event at Crystal River 3. This decision resolves outstanding issues from the Commission’s annual recovery clause hearing and finalizes PEF’s 2013 customer rates.
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.
Charges related to fuel and purchased power 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. PEF customers also have nuclear cost recovery amounts, approved on November 26, included in the energy charge.
Starting in January 2013, monthly bill charges for a PEF residential customer using 1,000 kilowatt hours (kWh) follow:
The current bill of $123.19 will decrease to $116.06, a reduction of $7.13.
PEF recovery amounts include: fuel and purchased power $33.93, capacity $17.38, conservation $3.06, environmental $4.94, and Gross Receipts Tax $2.90.
Recovery charges for Tampa Electric Company, Gulf Power Company, and Florida Public Utilities Company were approved on November 5 during the PSC’s annual recovery clause hearing. Recovery charges for Florida Power & Light Company will be determined following the Commission’s decision in its pending rate case.
For additional information, visit www.floridapsc.com.
Follow the PSC on Twitter, @floridapsc.
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