Posted on 09/02/2006 1:48:55 PM PDT by Recovering_Democrat
JUNO BEACH, Fla. – Florida Power & Light Company announced today that beginning January 2007, FPL residential customers could see an approximate two percent decrease in electric rates, if fuel costs don’t rise beyond current forecasts...Although FPL’s fuel costs are expected to be somewhat higher in 2007, the company said that several factors lead to the proposed reduction of a residential 1,000 kilowatt hour (kWh) bill from $108.61 to $106.68, including:
Increased fuel efficiency of FPL power plant fleet...
Lower 2006 fuel costs than earlier forecast...
A reduction of the storm restoration charge...
“We share our customers’ concerns regarding fuel prices and we are very aware of how the price of fuel has had an impact on a family’s budget,” said Armando Olivera, president of FPL. “We remain committed to doing everything we can to continue to provide our customers with the highest service reliability at the lowest price possible.”
The company has decreased its base rates by 15 percent since 1999; however fuel charges to customers during that time have increased by 200 percent. Volatility in the world fuel markets, rising global demand for fuels and the damage wrought by Hurricane Katrina had a significant impact on 2005 fuel costs causing FPL’s $1 billion under-recovery that year. FPL makes no profit on the fuel charge or the storm charge, and only actual costs are passed on to customers.
(Excerpt) Read more at fpl.com ...
I thought it was worthwhile.
Florida ping.
Of course this follows a 25% increase in 2006. That projected 2% represents an effective increase over 2005 of 23.2% We can expect to see increases in 2007 to offset the proposed reduction.
F.P.L. Raises our rates, lowers the amount it spends on maintaining it's own lines then raises its rates when the lines fail in storms. Oh yeah they also build a TajMahal for its corporate headquaters in North Palm Beach then vote a large bonus for the higher ups. F.P.L. while making bucks for its shareholders still sucks.
Want something better? Deregulate. Monopolies are bad.
Like all monopolies, what is there to make them accountable?
Sort of like the teachers unions.
Poor accountability, poor product, poor outcome.
agree. Next on my list, Bell South
52wk Range: 37.81 - 48.11
Volume: 1,958,100
Avg Vol (3m): 2,375,380
Market Cap: 17.96B
P/E (ttm): 16.90
EPS (ttm): 2.63
Div & Yield: 1.50 (3.40%)
Awesome. Looks like its makin' money, eh? :)
I wouldn't invest in this company (though many, many people have and continue to):
Volume: 2,674,099
Avg Vol (3m): 5,750,720
Market Cap: 115.23B
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)
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