FPL says lower fuel costs will translate into lower bills for customers

UNO BEACH, Fla. – Florida Power & Light Company today said its 2009 fuel bill is running about 6 percent less than originally estimated, which, if the trend continues through year end, would translate into additional savings for customers on their 2010 bills.

FPL today filed with the Florida Public Service Commission (PSC) its mid-year fuel report based on the cost and amount of fuel used during the first six months of the year.

“We’re very pleased that the trend so far this year is positive for customers since we’ve seen some dramatic price increases for fuel over the years. While we can’t control the price of fuel, our investments are making our power plants more efficient so that they use less fuel. That, in turn, translates into savings for our customers. We know that means a lot in today’s economy,” said FPL President and CEO Armando J. Olivera.

Customer savings from the 2009 fuel bill would be in addition to the $5 per month savings for typical residential customers already being projected for 2010. In February 2009, FPL projected that the impact of its pending base rate proposal would, when combined with lower 2010 fuel prices and increased fuel efficiency, deliver savings of about $5 a month on the typical 1,000 kilowatt-hour residential customer bill beginning in January 2010, if approved by the PSC. If lower fuel prices hold for the remainder of 2009, customer bills in 2010 will be even lower than previously estimated. FPL makes no profit on the pass-through price of fuel.

Olivera noted that FPL is helping customers save money through its investments in making power plants more efficient and through energy efficiency programs that help individual customers manage their electricity use. These savings occur even as the company continues to invest to ensure it can continue to deliver affordable, reliable, clean electricity over the long term.

In fact, FPL bills already are the lowest of all 54 utilities in the state of Florida, according to Florida Municipal Electric Association data for June, the most recent month available. On a typical 1,000 kilowatt-hour bill, FPL residential customers now pay an average of $28.50 less per month than other Floridians, a savings of $342 a year.

"We’re working hard to keep our customer bill among the very lowest in the state, but we know that customers also expect us to continue to invest to make their electrical infrastructure stronger, smarter, cleaner, more efficient and less reliant on any single source of fuel. These investments are strengthening our state’s essential infrastructure while at the same time creating jobs to help secure Florida’s energy future,” Olivera said.