Progress Energy, FPL to raise rates

Last Edited: Wednesday, 02 Jul 2008, 7:37 AM EDT
Created: Wednesday, 02 Jul 2008, 7:36 AM EDT

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Progress Energy to ask for rate hike



TALLHASSEE -- Customers of the state's two largest electric companies will see an increase in their monthly utility bills because of the rising price of fuel.

Florida Power & Light and Progress Energy on Tuesday sought a rate increase from the state's Public Service Commission. The companies say they're paying more for oil and coal to generate electricity.

FP&L asked for an increase of about $16 a month on an average bill from August through December. Progress Energy sought what amounted to a $9 increase.

The PSC voted to pass along half the increase this year, with the rest being assessed in 2009.

FP&L says spreading out the increase could put an even bigger burden on consumers next year because the cost of fuel is expected to continue to increase.