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How Will the Extra Billions Be Used?

Answer

FPL included a long list of changes and new investments in their filing for the PSC. This section includes some of the key items, but all the others may be referenced here.

Merging territories

  • FPL gains all of the customers previously serviced by Gulf Power, and the rate increase for FPL’s continuing customers avoids large rate increases for Gulf customers

New fossil fuel infrastructure

  • Investing in gas, a fossil fuel which creates planet-warming air pollution, is an uneconomic investment that we simply cannot afford

Trade association dues

  • Nearly $3 million to the Edison Electric Institute (EEI), a utility trade group that has played a key role in FPL’s attack on rooftop solar

Structurally unfair or unsustainable “clean energy” programs

  • Expansion of the SolarTogether program by up to 1788 megawatts, including 40% for homes and 60% for commercial/government customers

Solar Together is a controversial program because it allows for FPL to essentially double-bill customers for solar energy. It also portions out a higher share of the solar capacity for commercial and industrial customers, keeping residential customers (our households) from accessing a share that is fair in proportion to what we will be paying. Parties in the 2021 FPL Rate Case agree this is a prime example of how the settlement agreement will drive a “massive transfer of wealth from the residential class to participating commercial/industrial customers.” 

The cost of these unfairly structured clean energy investments looks like a couple hundred million dollars on paper, but it’s likely to balloon out over their lifetime. As an example, FPL expects to make over $2 billion in profit from the solar investments alone.