Progress Energy Rate Case Begins
Progress Energy, Florida's second largest utility is asking for an increase of more than $13 a month for the average customer, but many think the hike is too much at the wrong time.
Before a small hike in July, the average Progress customer was paying $122.43 a month. If the company gets everything it wants, the bill would jump to 135.69 in January. The company says it needs the money to make sure the lights come on when you flip the switch.
The rate hike faces opposition from the governor, however he does not have a vote on the matter. The state lawyers who look out for consumers are also saying no to the hike.
Also stacking up against the utility are the states biggest power users, including the Florida Retail Federation.
Progress Energy is asking for the right to make a 12.54% return on its investment. No other utility in the country has asked for that much this year.
A decision on the rate hike is expected November 19th. If any part of it is approved, higher rates will show up on your January bill.
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