03/06/2018 - Laserfiche WebLink

Home Browse Search

ORDER NO. PSC -2018 -0103 -PCO -EI DOCKET NO. 20170272 -EI PAGE 3 Once the final approved actual storm recovery amount has been recovered, or offset, DEF shall reduce base rates in the manner prescribed in the 2017 Settlement. Our approval of an interim storm restoration recovery charge is preliminary in nature and is subject to true -up pending further review once the total actual storm restoration costs are known. After the actual costs are reviewed for prudence and reasonableness, and are compared to the actual amount recovered through the interim storm restoration recovery charge, a determination will be made whether any over/under recovery has occurred. The disposition of any over/under recovery, and associated interest, shall be considered by us at a later date. Based on our review of the information provided by DEF in its petition, we hereby authorize DEF to implement an interim storm restoration recovery charge subject to true -up. Once the total actual storm costs are known, DEF shall be required to file documentation of the storm costs for our review and true -up of any excess or shortfall. This is not a confirmation or endorsement of the prudence of DEF's forecasted costs and plans. This order only allows DEF to begin recovery on an interim basis in accordance with the 2017 Settlement agreement. This interim recovery is subject to true -up following a hearing or formal proceeding where the veracity and prudence of DEF's actual restoration costs can be fully vetted. Additionally, we find that the implementation stipulation is in the public interest and hereby approve DEF's Amended Implementation Stipulation. Based on the foregoing, it is ORDERED by the Florida Public Service Commission that Duke Energy Florida, LLC is hereby authorized to implement an interim storm restoration recovery charge as amended. It is further ORDERED that Duke Energy Florida, LLC's Amended Implementation Stipulation is hereby approved. It is further ORDERED that Duke Energy Florida, LLC shall file with this Commission documentation of the actual storm costs once those costs are known. It is further ORDERED that this docket shall remain open for future disposition by this Commission.