PSC approves Progress Energy rate settlement
Your base rate could increase by $14.18 a month.
Posted: 02/22/2012
TALLAHASSEE, Fla. (AP) - Monthly rates will go up $4.93 a month next year for a typical Progress Energy Florida customer due to a settlement that has received state approval.
The Public Service Commission on Wednesday endorsed the deal Florida's second-largest electric utility reached with consumer advocates last month.
It includes a $288 million refund of costs resulting from the shutdown of a nuclear plant at Crystal River but base rates go up $150 million.
That's a net increase of $4.93 a month for a customer using 1,000 kilowatt hours, which is about average, for a total of $128.12.
The nuclear plant will be temporarily removed from the base rate. The pass-on of costs associated with a proposed nuclear plant in Levy County also will be limited.
The company serves central and north Florida.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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