FPL wants 7 per cent increase
The reasons given for the proposed increase include pass-through fuel costs, investments in nuclear power and energy conservation costs.
If approved, residential electric bills would go up by $8.29 to $119.41 a month, based on a home using 1,000 kilowatt-hours of electricity.
"Floridians expect affordable, reliable, clean energy solutions," FPL President Armando Olivera said in a statement. "That's why we're investing in making our infrastructure cleaner, more fuel efficient and less reliant on any single source of fuel."
The proposed increase, which has not yet been approved by state regulators, would go into effect in January.
As part of the increase, a portion — $3.92 based on a 1,000 kilowatt-hour monthly bill — would pay for increased fuel costs. The remaining $4.37 of the increase would fund:
• Capacity increases at existing nuclear units at Turkey Point near Miami and at Port St. Lucie and initial steps toward construction of two nuclear units at Turkey Point.
• Increased energy conservation measures.
• Construction of three solar power facilities.
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Power producers sit on thousands of megawatts of underutilized plant, while consumers face frequent power cuts, both planned and unplanned.
Financially troubled generators struggle to escape insolvency proceedings. The state-owned banks that have mostly financed power utilities fear that debts of troubled utilities totaling 1.74 trillion rupees will soon go bad.
Aggressive bidding for supply contracts and slower-than-expected demand growth is the root cause. The problems are compounded by difficulties in securing coal and other fuels, high transmission losses, electricity theft and cash-starved distribution companies.
But India's 36 state and union…
