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ORDER NO. PSC -2019 -0218 -PAA -EI DOCKET NO. 20190087 -EI PAGE 3 We reviewed the Company's calculations and find that they comply with the requirements of Rule 25-6.0141(3), F.A.C. Therefore, we approve a discounted monthly AFUDC rate of 0.504118 percent. C. Approval of FPL's requested effective date of January 1, 2019, for implementing the revised AFUDC rate FPL's proposed AFUDC rate was calculated using a 13 -month average capital structure for the period ended December 31, 2018. Rule 25-6.0141(5), F.A.C., states, in part, that: The new AFUDC rate shall be effective the month following the end of the 12 - month period used to establish that rate and may not be retroactively applied to a previous fiscal year unless authorized by the Commission. The Company's requested effective date of January 1, 2019, complies with the requirement that the effective date not precede the period used to calculate the rate; therefore, the requested effective date is approved.3 Based on the foregoing, it is ORDERED by the Florida Public Service Commission that the appropriate AFUDC rate for Florida Power & Light Company is 6.22 percent based on a 13 -month average capital structure for the period ended December 31, 2018. It is further ORDERED that the appropriate monthly compounding rate to maintain an annual rate of 6.22 percent is 0.504118 percent. It is further ORDERED that the revised AFUDC rate shall be effective as of January 1, 2019, for all purposes. It is further ORDERED that the provisions of this Order, issued as proposed agency action, shall become final and effective upon the issuance of a Consummating Order unless an appropriate petition, in the form provided by Rule 28-106.201, Florida Administrative Code, is received by the Commission Clerk, 2540 Shumard Oak Boulevard, Tallahassee, Florida 32399-0850, by the close of business on the date set forth in the "Notice of Further Proceedings" attached hereto. It is further 3Due to changes made to Section 366.93, F.S., during the 2013 Legislative Session, Rule 25-6.0423, F.A.C., was amended in January 2014 to provide that for the purposes of nuclear or integrated gasification combined cycle power plant cost recovery, carrying costs pursuant to the rule shall be calculated using the utility's most recently approved pretax AFUDC rate at the time an increment of cost recovery is sought. Prior to the amendment, the rule had provided that for power plant need petitions submitted on or before December 31, 2010, the associated carrying costs would be computed based on the pretax AFUDC rate in effect on June 12, 2007. Therefore, we find that a single AFUDC rate would be effective for all purposes, including for computing carrying costs for cost recovery sought pursuant to Section 366.93, F.S.