Costs to restore electric service for Florida Public Utilities Company (FPUC) customers following Hurricanes Matthew and Irma and other tropical storms in 2016 and 2017 were approved today by the Florida Public Service Commission (PSC).
FPUC’s total $1,927,648 recovery includes $427,648 in storm restoration costs, with the remainder needed to replenish its depleted storm reserve fund to $1.5 million. The PSC held an evidentiary hearing in December 2018 to fully review FPUC’s request to recover costs to restore service from damage caused by storms in 2016 and 2017.
“Utilities can request a storm surcharge to help cover storm recovery expenses,” said PSC Chairman Art Graham. “In FPUC’s case, storm restoration costs more than exceeded its reserve funds. Through the PSC’s thorough hearing process, customers can be ensured that the approved recovery amount is strictly limited to prudent storm restoration costs, with appropriate reserve funds to help offset future storm related costs.”
To lessen the customer bill impact, the PSC allowed FPUC to recover the $1.9 million over 24 months through a $1.56 monthly residential bill surcharge per 1,000 kilowatt hours usage. The storm recovery surcharge will be in effect from April 2019 through March 2021.
FPUC serves approximately 32,000 customers, across two divisions, one on Amelia Island and the other serving a largely rural service territory in the north central Panhandle.
For additional information, visit www.floridapsc.com.
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