Florida cost recovery hearing set Monday

TALLAHASSEE —  Florida’s Public Service Commission (PSC) will begin its Cost Recovery Clause hearing on Monday, November 4, continuing through Wednesday, November 6, if necessary.  The hearing will determine 2014 fuel and purchased power recovery charges for customers of Florida Power & Light Company (FPL), Duke Energy Florida, Inc. (DEF), Tampa Electric Company, Gulf Power Company, and Florida Public Utilities Company. 

During the hearing, utility representatives will present testimony in support of their projected 2014 fuel and purchased power costs, true-up of previous estimates for 2013 incurred costs, and true-up of 2012 costs to actual costs.  Recovery of capacity, conservation, and environmental costs will also be considered. 

 Under Florida Statute, utilities may recover the fuel and purchased power costs necessary to meet customer demand but may not earn a profit on fuel purchases.  The fuel charge appears as a separate line item on customer bills.  Capacity, conservation, and environmental costs are included in the energy charge and not listed separately on customer bills.  FPL and DEF customers will also have Commission-approved nuclear cost recovery amounts included in the energy charge.