JUNO BEACH, Fla. (AP) - Electric utility Florida Power & Light Co., a
subsidiary of FPL Group Inc., has applied to Florida regulators to raise
electric bills by an average of 16 percent to cover rising fuel costs.
The company said rising prices for natural gas and fuel oil, which power the
majority of its electric generation, spurred the application.
FPL said it projects it will need $746 million to cover the extra costs for
fuel. It wants to increase a pass-through fuel charge by $16.28 per month.
FPL has asked the state Public Service Commission to vote on the adjustment
at its July 1 meeting. If approved, the fuel adjustment would be reflected in
customer bills from August through December 2008.
Shares rose 27 cents to $66.08 in after-hours trading.
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