Fla. OKs Energy Cos.' $540M Rate Hike For Nuke Project

Law360, New York (November 29, 2012, 9:09 PM EST) -- Florida's utility regulator this week approved $540 million in rate increases for customers of Florida Power & Light Co. and Duke Energy Corp.'s Progress Energy Florida to fund improvements to existing nuclear power plants and construction of new reactors.

The Florida Public Service Commission on Tuesday signed off on FPL's requested $246 million revenue increase to cover operating costs of added generating capacity at nuclear power plants in St. Lucie and Miami-Dade counties.

The announcement came one day after the commission approved $151 million for FPL...
To view the full article, register now.