FPL says fuel costs down, could lower rates in 2010

JUNO BEACH — Florida Power & Light Co. said its 2009 fuel bill is running about 6 percent less than originally estimated, which could translate to lower rates in 2010 if the trend continues.

FPL Tuesday filed with the Florida Public Service Commission its mid-year fuel report based on the cost and amount of fuel used during the first six months of the year.

"We’re very pleased that the trend so far this year is positive for customers since we’ve seen some dramatic price increases for fuel over the years,” said FPL CEO Armando J. Olivera said. “While we can't control the price of fuel, our investments are making our power plants more efficient so that they use less fuel. That, in turn, translates into savings for our customers. We know that means a lot in today's economy,"

Customer savings from the 2009 fuel bill would be in addition to the $5 per month savings for typical residential customers already being projected for 2010.

In February 2009, FPL asked the PSC for a rate hike while proposing to cut its fuel surcharge. The net effect would be a $5 a month savings for a customer using 1,000 kilowatts a month.

FPL said its customers enjoy the lowest bills of all 54 utilities in the state of Florida, according to Florida Municipal Electric Association data for June. On a typical 1,000 kilowatt-hour bill, FPL residential customers now pay an average of $28.50 less per month than other Floridians, a savings of $342 a year, FPL said.