FPL saving in fuel costs
I would like to correct inaccuracies about Florida Power & Light’s fuel charges that were included in recent letters.
FPL, as a regulated utility, does not profit from the cost of fuel. Our customer fuel charges are set by a process governed by the Florida Public Service Commission. FPL does not determine the price of the fuel, much like consumers cannot control the price they pay for gas at the pump. Nonetheless, we shop aggressively to get the best fuel prices. In 2008, we used 60 suppliers of natural gas to help save money.
And when we save, you save. In fact, FPL most recently reduced fuel charges for our customers on Jan. 1.
In addition, FPL has invested heavily in making our power plants the most efficient of their kind in the U.S. Think of the monthly savings you see as a homeowner when you invest in a new, more efficient air conditioner. Similarly, FPL’s efficiencies reduce the amount of fuel we use to produce electricity, which results in savings for you as well. Over the past six years, our investments in cleaner, more-efficient power generation have saved our customers $3 billion in fuel costs.
As we continue these investments, we will achieve by 2014 a 20-percent improvement in the efficiency of our power generation fleet as compared to 2002. As a result, our customers will pay $1 billion less a year for fuel than they were in 2002.
That’s on top of the fact that FPL’s typical residential bill is now the lowest of the state’s 54 utility companies. The typical FPL customer pays about $25 less per month than other Floridians — a $300 a year in savings.
Florida Power & Light