Good for you, Public Service Commission of Florida!
In an era when people expect the lobbyists to win at the expense of the public, the Public Service Commission has withstood an onslaught of pressures, temptations, misleading claims and other low moves by Florida Power & Light.
I commend the full story to you in the Miami Herald. But the short version is, the public actually wins! Or at least they win so far.
Their bill s will be smaller on average for their electricity, contrary to FPL’s demands for a rate increase that would have soaked Florida residents and businesses for an extra $1.3 billion.
To the power company, that extra billion-and-a-third bucks bulging out of their pockets was worth a $6 million full court press lobbying campaign. In the end, they’ll end up essentially soaking their own stockholders for the $6 million. Maybe the stockholders ought to think about dumping their execs.
FPL’s executives’ may feel a certain emptiness in their personal pockets as well. Bonuses and raises were denied for the power company execs, who assailed the Public Service Commission with high powered Washington lobbying, sleazy attempts to win favor by inviting commission employees home for parties, and a small slew of specious and whiny claims.
After the commission's ruling, the power company’s chief exec, Armando Olivera, whined that the decision creates a “chilling effect on anyone who wants to invest in this state.” He evidently didn’t explain how regulation of a government-regulated utility (and power costs that are under control) could have a chilling effect on a manufacturer, hotel builder, or cake baker who might want to start up a business or relocate to Florida. That’s probably because yet another of his outlandish statements is unexplainable.
Chalk one up for the good guys!