Title
VICE MAYOR MICHAEL HERNANDEZ ITEM NO.1: DISCUSSION AND POSSIBLE ACTION REGARDING FPL SEEKING A NEW RATE INCREASE.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. FPL is seeking a new rate increase. If approved by the Florida Public Service Commission, the company’s average residential customer would be paying approximately $21 more per month by 2029. That would be an annual increase of $252 per year in just a few short years, per City Administration.
2. According to the company, FPL’s requested rate increase would fund further investments in infrastructure, technology and renewable energy sources. However well-intentioned that may be, South Floridians have been impacted by increasing cost of living in every aspect of their lives from housing, homeowners insurance, association fees, and the rising cost of essential goods and services, etc. This historic rate increase request could further exasperate a very challenging economic situation for the City’s 171,000 residents and business owners, particularly those living on fixed incomes.
3. Vice Mayor Hernandez will ask for the support from the Mayor and Commission to consider the adoption of a formal resolution to request FPL reconsider its historic rate increase request and urge that the Florida Public Service Commission reject any increase if the company moves forward with their increase request. This increase will impact every resident of the City of Pembroke Pines and within its service territory in the State of Florida’.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: None.
b) Amount budgeted for this item in Account No: Not Applicable.
c) Source of funding for difference, if not fully budgeted: Not Applicable.
d) 5 year projection of the operational cost of the project: Not Applicable.
e) Detail of additional staff requirements: Not Applicable.
FEASIBILITY REVIEW:
A feasibility review is required for the award, renewal and/or expira...
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