JUNO BEACH, Fla., May 11 /PRNewswire/ -- Florida Power & Light Company
customers will receive a pleasant surprise in their June bills when FPL
refunds approximately $105 million through the revenue-sharing feature of its
current rate agreement. The average residential customer who uses 1,134
kilowatt-hours a month will see a one-time credit of approximately $17.20 on
the June bill.
The refund is part of a three-year rate agreement reached in April 1999
between FPL and Public Counsel Jack Shreve and unanimously approved by the
Florida Public Service Commission. Under that agreement, FPL reduced rates
for its customers by $350 million a year and provided for revenue sharing
between the utility and its customers when revenues exceeded certain levels.
"We're pleased to be able to provide this refund to customers at a time
when hot summer weather and very high fuel costs may be combining to boost
electricity bills," said Paul Evanson, FPL president. "This is an outstanding
example of how incentive-based rate agreements can benefit customers," Mr.
Evanson said. FPL refunded $22.8 million to customers through revenue
sharing last year. The larger refund this year is due primarily to continued
strong customer growth and increased electricity usage resulting in part from
the extended cold weather this past winter.
"While the refund will help reduce the impact somewhat on June bills, we
encourage our customers to use good energy efficiency and conservation
measures throughout the upcoming hot summer months," Mr. Evanson said.
Customers can get helpful information such as energy conservation tips,
low-cost energy efficient improvements and billing options by visiting FPL on
the Internet at http://www.fpl.com or by calling an FPL representative at 1-800-DIAL
FPL.
Florida Power & Light Company is the principal subsidiary of FPL Group,
Inc. (NYSE: FPL), one of the nation's largest providers of electricity-related
services with annual revenues of more than $7 billion. The company serves
approximately 3.9 million customer accounts in Florida. FPL Energy, LLC, FPL
Group's U.S. and international energy-generating subsidiary, is a leader in
producing electricity from clean and renewable fuels. Additional information
is available on the Internet at http://www.fpl.com.
SOURCE Florida Power & Light Company
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CONTACT:
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Power & Light Company, 305-552-3888
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