TALLAHASSEE, Fla. – State regulators will hold a hearing June 5 on a proposed settlement agreement stemming from Florida Power & Light’s costs in restoring power after Hurricane Matthew in 2016.
FPL and the state Office of Public Counsel, which represents consumers in utility issues, announced the proposed settlement last week.
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It would result in a $27.7 million refund to customers.
The refund is tied to $316.5 million that FPL charged customers after Matthew caused damage along the East Coast in October 2016.
Utilities are typically allowed to recoup costs of restoring power and rebuilding systems after hurricanes and to replenish storm reserves. But they also have to return to the Florida Public Service Commission to justify the amounts recovered from customers.
FPL collected $322.45 million through the charge, with about $6 million listed in the settlement agreement as “over-recovery” of costs. The remainder of the refund, $21.7 million, is due to an accounting adjustment on the restoration costs.
After the settlement was filed, the Public Service Commission canceled a hearing on Matthew costs that had been scheduled for Tuesday. It issued an order Friday scheduling the hearing for June 5.
The proposed settlement, however, appears likely to face scrutiny from the Florida Industrial Power Users Group, a business organization that frequently takes part in utility cases.
The group known as FIPUG said in a filing Friday that it opposes the proposed settlement “at this time,” noting that it will have the opportunity to question witnesses under oath June 5 about the agreement and underlying issues in the case.