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PSC approves Progress Energy Fla. rate settlement

By AP  | February 22, 2012
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TALLAHASSEE, Fla. (AP) — Monthly rates will go up $4.93 a month next year for a typical Progress Energy Florida customer due to a settlement that has received state approval.

The Public Service Commission on Wednesday endorsed the deal Florida's second-largest electric utility reached with consumer advocates last month.

It includes a $288 million refund of costs resulting from the shutdown of a nuclear plant at Crystal River but base rates go up $150 million.

That's a net increase of $4.93 a month for a customer using 1,000 kilowatt hours, which is about average, for a total of $128.12.

The nuclear plant will be temporarily removed from the base rate. The pass-on of costs associated with a proposed nuclear plant in Levy County also will be limited.

The company serves central and north Florida.

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