The Florida Public Service Commission (PSC) today approved a Supplemental Order affirming that the Commission’s prior approval of Florida Power & Light Company’s (FPL) 2021 Settlement Agreement was made in the public interest. The Florida Supreme Court remanded the PSC’s Final Order approving FPL’s 2021 Settlement for further explanation.
In December 2021, Floridians Against Increased Rates and Florida Rising—intervenors in the case and non-signatories to the Settlement—separately appealed the PSC’s Final Order to the Florida Supreme Court. As directed by the Court in response to the appeals, the Commission reviewed competing arguments in the existing evidentiary record to further explain how the evidence led to its decision.
The Commission identified and thoroughly reviewed 15 arguments presented by the parties in pre- and post-hearing filings to the case record. In considering a Settlement Agreement, the Commission commits to the public interest standard of whether—as a whole—the Settlement resolves all issues; establishes fair, just and reasonable rates; and is in the public interest.
In this case, the 2021 Settlement signatories—representing a broad cross-section of customers and interests—reduced FPL’s proposed rate increases and lowered its Return on Equity from what was originally requested. The Settlement supports a multi-year rate plan, which benefits customers and serves the public interest by providing long-term stability and predictability with respect to base rates, and backs FPL’s plans to increase renewable energy generation. Intervenors who did not sign the Settlement were provided a full and fair opportunity to contest the resolution in due process.
Today, the Commission also denied Floridians Against Increased Rates’ Motion to Reopen the Evidentiary Record and Florida Rising’s Motion for Evidentiary Hearing. Both motions seek to include evidence that was not available at the time the original evidentiary record was established.
For additional information, visit www.floridapsc.com.
