JUNO BEACH, Fla., Aug. 23 /PRNewswire/ -- Florida Power & Light Company
today asked the Florida Public Service Commission to approve a reduction in
rates to customers, effective in early October, due to lower oil and gas
prices.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010621/FPLLOGO )
"After experiencing nearly two years of steadily increasing prices, we are
delighted to see a downward trend in fuel costs. We want to pass on the
benefit to our customers as soon as possible, rather than waiting until the
regularly scheduled adjustment in January," said FPL President Paul Evanson.
Under the proposed early reduction, residential customers that use 1,000
kilowatt-hours a month would see their bills decline by more than 7 percent --
from $87.98 currently to $81.66.
While fuel costs are expected to remain volatile, the company said it
hopes the rate reduction will remain in effect from October through at least
December 2002.
"Even though fuel costs are declining, they remain well above the prices
paid in 1999. For that reason, we continue to encourage all customers to take
advantage of sound energy conservation practices to help hold down the impact
of fuel prices and weather extremes on their monthly bills," Mr. Evanson said.
FPL said it has asked the PSC to approve the reduction at its September 4
meeting, rather than waiting until the scheduled hearing in November so that
customers will see the benefit of declining fuel prices as soon as possible.
FPL's fuel charge to customers is based on actual fuel costs borne by the
utility, with no profit added. While the fuel charge has risen beginning in
1999, FPL's non-fuel service rates declined during this period and have
remained well below the national average.
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 $8 billion. The company serves
3.9 million customer accounts in Florida. FPL Energy, LLC, an FPL Group
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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Related links:
http://www.fpl.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20010621/FPLLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/319763.html
CONTACT:
Corporate Communications Media Line of
Florida Power & Light Company, +1-305-552-3888
EDITOR'S ADVISORY: PDF charts of fuel price fluctuations are
available. Call the media line at +1-305-552-3888.
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