After pouring workers and equipment into restoring electricity after Hurricane Ian, Florida Power & Light expects to seek approval to recoup about $1.1 billion from customers, officials said Friday.
It was not immediately clear when FPL will file a proposal at the Florida Public Service Commission — or how the proposal would affect customers’ monthly bills.
But utilities have traditionally been allowed to recover costs from customers after hurricanes, and a rate agreement approved last year by the commission contemplates FPL being able to make such a proposal.
About $220 million of the $1.1 billion would be used to replenish a storm reserve, Kirk Crews, executive vice president and chief financial officer of NextEra Energy, FPL’s parent company, said Friday during a third-quarter earnings call with analysts.
Ian made landfall Sept. 28 as a Category 4 hurricane in Lee and Charlotte counties before crossing the state. FPL provides electricity in some of the areas hardest hit by the storm, including parts of Lee, Charlotte, Sarasota and DeSoto counties. It also, for example, serves much of Volusia County, which sustained damage after Ian went through Central Florida.
A document that was part of Friday’s earnings call said more than 2.1 million FPL customers in 32 counties lost power because of the storm.
FPL and other utilities brought in workers from other states to help restore power and rebuild damaged electrical infrastructure. Crews said FPL assembled about 20,000 workers for the effort.
In a prepared statement Friday, John Ketcham, chairman, president and chief executive officer of NextEra Energy, said power was restored to “essentially all affected customers within eight days.”
“We believe these results were enabled by the valuable investments we have made to create a smarter, stronger and more storm-resilient energy grid together with the efforts of our team and all of those who provided mutual assistance,” Ketcham said.
Depending on the timing, the restoration costs could add to electric bills that are already expected to increase next year for FPL customers. Factors such as increased base electric rates and high natural-gas costs are driving up bills for customers of FPL and other utilities. Prices of natural gas, which is used to fuel power plants, have been particularly volatile.
Utilities in the past have been able to file interim proposals that allow them to begin recovering storm-related costs. They later return to the Public Service Commission for what is known as a “true-up” process to nail down the final costs.
The commission on Tuesday is expected to take up issues related to costs incurred by FPL and the former Gulf Power Co. — which is now part of FPL — in 2020’s Hurricane Sally, Hurricane Isaias, Hurricane Zeta and Tropical Storm Eta.
–Jim Saunders, News Service of Florida
R. S. says
An Indian village has gone totally solar; energy is free for all villagers with a communitarian ideology. I wonder when we will recover from our rugged individualism nightmare and capitalist rip-offs.
Inspired by the sun-god:
The Modhera Sun Temple in Gujarat, India, now runs a 3D light show entirely on solar power. Home to the iconic Sun Temple of Gujarat, Modhera village is approximately 97 km from the city of Ahmedabad in the Mehsana district of Gujarat.
Coughlin Daniel says
I Think we pay more than enough. How many times are they going to raise our utility bills? Over the last few years we have grown immensely, and with that the utility companies are getting paid I have a lot more. With them keep raising our utility bills it’s going to push out all of the residents living on a fixed income and others. I think we’re paying too much as it is.
Tjmelton says
ASSHOLES, GREED, CORRUPTION, LIARS& THEIVES
Robjr says
The Florida Public Service Commission will dutifully oblige the power company and in full.
HayRide says
if you ever want to invest, invest in a utility company, you almost can’t lose. now this company makes fist over dollars, why should we kick in, for their operating expenses? didn’t they pay their bill for Lloyds of London?
guess it comes down to the board of directors must maintain their constant paychecks without disruption.
Aj says
Not surprised. I will say Fpl does a good job. Insurance rates will increase too. The insurance companies dont do a good job from my experience. We will see what the increase be. My question is why do we need insurance when they increase, deductibles and deny the claims? Can someone explain that to me.
Jimbo99 says
The way the system works, the masses are steered towards lies of free & lower cost alternatives. After the lure and the masses are on the hook, they find a way to raise rates & tax on the the new technology. And there will always be self proclaimed experts with a self proclaimed better mouse trap that isn’t better just a different way of doing the same thing.
True story, Know another in Orlando, FL that went solar, his roof leaks from the installation. Nobody wants to be the accountable or responsible when the free solar was installed & went wrong.
John Stove says
Bury your power lines you freaking idiots…..storm after storm after storm the poles and lines are knocked down and the bills keep being passed on to us when they reinstall new ones. This utility is run by morons.