State Gives Florida Power & Light Its Requested Rate Hike
State regulators have given Florida Power & Light the go ahead to raise rates. FPL says it needs the cash to pay for damage related to Hurricane Matthew.
FPL says Hurricane Matthew left it needing hundreds of new transformers, poles, miles of wire, and extra hands to help get the power back on.
The $318.5 million request will break down to $3.36 a month more for the average residential customer. The increase will show up on bills next month, and FPL says it will remain for twelve months.
There are nearly five million FPL customers in Florida. Residential customers saw their bills go up by about $7 a month last year.