The company, saying that money doesn’t grow on trees, has asked for a $1.35 billion increase in base electric rate over the next 2 years. That amounts to a 12.5 % ROE and a 30% increase to its customers. If they don’t get the rate increase that they want, they say that modernization (capital projects) will halt and thousands of people will lose jobs.
The CEO, Lewis Hay’s executive package was over $11.5 million a year in 2008.
Although we in
The Florida Public Service Commission says
I have often wondered how a company such as FPL can be the cheapest power in the State and its reliability 47 percent better than the national average when it spends so much. It seems to be an efficiently run company with energy conservation goals and they have a long-term plan for success by charging the consumer in advance.
It is just the exorbitant executive pay, stock options, that company plane and the big Christmas bonus that bothers me.