PSC Approves Storm Restoration Cost Recovery for Florida IOUs

Established by the legislature in 2019, the annual storm protection plan cost recovery clause (SPPCRC) hearing determines prudently incurred storm protection plan costs for Florida's IOUs that are allowed for recovery. Costs approved today will be recovered from January-December 2025.

Each utilities' approved SPPCRC costs and bill impacts are listed below. Approved amounts include true-up costs for the prior year, actual/estimated costs for the current year, and projected costs for the following year.

FPL'sapproved recovery is $786,583,276. The monthly bill impact per 1000 kWh for a residential customer is $8.10.

DEF's approved recovery is $269,957,058. The monthly bill impact per 1000 kWh for a residential customer is $8.01.

TECO'sapproved recovery is $117,623,743. The monthly bill impact per 1000 kWh for a residential customer is $8.38.

FPUC'sapproved recovery is $5,667,195. The monthly bill impact per 1000 kWh for a residential customer is $9.97.

PSC rules require Florida IOUs to outline their storm hardening programs and projects for the upcoming year and demonstrate that these initiatives align with their Commission-approved storm protection plans (SPP). Each IOU is required to submit an updated SPP every three years, covering the next 10-year period.

For additional information, visit www.floridapsc.com.

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