Representative Mike Fasano’s Comments Regarding Progress Energy’s Advance Nuclear Power Rate Increase
Today the Florida Public Service Commission approved an approximate combined $142 million dollar rate increase for the Crystal River and Levy County nuclear power plants’ advance nuclear cost recovery. Representative Mike Fasano, who joined other lawmakers in opposing any further collection of this fee, has released his comments about the utility regulator’s actions.
“I have long opposed the collection of any fees for advance nuclear cost recovery,” Representative Fasano states. “Today’s decision to approve $142 million is yet another poke in the eye to the customers who may never see anything in return. From the botched repairs in Crystal River to the long-term problems associated with siting Levy County’s reactor, the customers may ultimately be paying for something that will never materialize. Even if years pass and one or both of these plants ever come online, the amount invested will take decades to be recouped. I fear that few who are paying the advance nuclear cost recovery fee today will ever benefit from their forced contribution towards these projects.”
The Public Service Commission has deferred any consideration of 2012 rate increases until next year. Today’s action pertains only to 2011 rate increase requests.
“I do believe that the intervention of me and other lawmakers has helped bring greater attention to the issue,” Representative Fasano further comments. “The more Progress Energy and the Public Service Commission realize their actions are being scrutinized, the more customers will ultimately benefit.”