The Real Deal Miami

FPL requests $100M for property buys

August 30, 2012 03:00PM

Nearly $100 million of Florida Power & Light’s recent rate request is slated for South Florida properties, according to the Sun Sentinel. The utility company submitted the request to regulators this week, asking for the right to generate funds to purchase sites for future power plants. In July, the company announced its intention to push forward with a base rate increase of as much as 28 percent for businesses to help raise $1 billion for a power plant in Cape Canaveral.

However, Florida’s Office of Public Counsel has already recommended that FPL cut the $100 million from its request, reasoning that customers should not have to pay for the potential sites, while giving FPL shareholders a return.

Some of the potential location for new plants include Hendry County and Okeechobee County, according to Rene Silva, FPL’s property purchasing team leader. [Sun Sentinel]Christopher Cameron