Miami Herald: Fla. PSC approves nuclear plant rate hikes

Oct 16, 2009

The Miami Herald published this article on October 16, 2009

The Associated Press

TALLAHASSEE, Fla. — The Public Service Commission has approved rate increases to pay for building nuclear power plants that critics say aren’t needed.

The commission Friday voted 3-1 to hike special cost recovery rates for the state’s two major electric utilities.

Florida Power & Light Co.’s increase will add 67 cents to a monthly bill for 1,000 kilowatt hours, which is fairly typical usage.

Progress Energy Florida received an increase of $5.86 for that amount of power.

Both companies were given slightly less than they had requested.

Opponents say new nuclear plants are unnecessary and too big of a financial risk. They cite dropping natural gas prices, increased conservation and reduced demand due to the economic downturn.