Regulators Back FPL Plan to Speed Up Refunds

Posted By: Garnie Holmes Industry, Legislative/Regulatory,

Florida PSCNSF Staff
The state Public Service Commission on Tuesday approved a plan by Florida Power & Light to speed up refunds of deposits for tens of thousands of customers amid the COVID-19 pandemic. FPL announced the plan last month as part of steps that also included providing bill credits of up to $200 to some residential and small-business customers.

FPL said in its filing that the move to speed up refunds of deposits would return $9 million to $11 million to 50,000 to 60,000 residential customers. Ordinarily, deposits are refunded after 23 months to customers with good payment records. The plan is a one-time move that will shorten the period to 12 months. “This one-time accelerated refund of cash deposits to residential customers who qualify will help customers and families who, although they have been able to pay their electric bills promptly, may have been impacted by the COVID-19 pandemic nonetheless,” the company said in its Sept. 11 filing.

Article reposted with permission from The News Service of Florida.