The Florida Public Service Commission’s (PSC) decision to authorize a rate increase of more than $4.9 billion for FPL retail customers between 2022 and 2025 is being appealed by the nonprofit Floridians Against Increased Rates (FAIR).
According to the non-profit, FPL is in breach of Florida state law’s “fair and reasonable return” utility regulating legislation.
The League of United Latin American Citizens of Florida, the Environmental Confederation of Southwest Florida, and Earthjustice are additional defendants in the action on the side of FAIR.
The Florida Supreme Court is now hearing arguments on a heated issue where FPL has questioned the funding of FAIR, which is exempt from the IRS’s donor disclosure requirements since it is registered as a 501c4 organization.
However, the Supreme Court recently rejected these arguments and affirmed the standing of FAIR in court. It also brought up the membership of FAIR, claiming that FAIR has never conducted a meeting in person and has failed to demonstrate if its members are genuine “flesh and blood” persons.
Furthermore, according to FAIR, FPL is violating Florida law by enabling it to keep “accrued depreciation,” which is a normal regulatory accounting approach. This is how FPL is allegedly keeping money that ought to be refunded to customers.
FPL argues that it needs the extra money to upgrade its infrastructure, get ready for an increase of around 500,000 consumers, and pay for its significant solar project pipeline.
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Co-founder of FAIR Michael Hightower wrote in a public letter to FPL President Eric Silagy, “We fail to see the urgency of FPL’s planned rate hike request, given that FPL consistently maintains profits that are effectively guaranteed and much higher than those of other U.S. utilities, and since FPL was the only regulated electric utility in Florida that did not pass its windfall from recent federal corporate tax breaks, $772.3 million per year, It is unjustified to claim that FPL stockholders need the money more urgently than others who would be required to pay it.
