How Will the Extra Billions Be Used?
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.
- 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.