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ORDER NO. PSC -2021 -0169 -PCO -EI
<br />DOCKET NO. 20210015-E1
<br />PAGE 2
<br />settlement agreement provided for a generation base rate adjustment to coincide with the in-
<br />service date of the Okeechobee Clean Energy Center. The settlement agreement provided that
<br />retail base rates, with certain exceptions, would be frozen through the last billing cycle in
<br />December 2020. Section 12(c) of the. settlement agreement permitted FPL to continue to
<br />amortize its theoretical depreciation reserve surplus beyond December 31, 2020, if the Company
<br />provided notice to the Parties of the settlement agreement, prior to March 31, 2020, that it did not
<br />intend to seek a base rate increase with an effective date prior to January 1, 2022.2 FPL
<br />exercised this option.
<br />On January 29, 2021, we acknowledged the Office of Public Counsel's notice of
<br />intervention in this proceeding.3 The Florida Executive Agencies, Florida Industrial Power
<br />Users Group, Florida Retail Federation, Daniel and Alexandria Larson, Southern Alliance for
<br />Clean Energy, League of United Latin American Citizens, Environmental Confederation of
<br />Southwest Florida, Inc. and Florida Rising, Inc. are parties to this docket. Walmart, Vote Solar,
<br />Inc., CLEO Institute, Inc., and Floridians Against Increased Rates, Inc. have filed to intervene
<br />but not yet been granted intervention. A hearing has been scheduled for August 16-20 and 23-
<br />27,2021.
<br />This order addresses the suspension of the requested pennanent rate increase. We have
<br />jurisdiction over this matter pursuant to Sections 366.06.(2) and (4), F.S.
<br />DECISION
<br />FPL filed its petition, testimony, and minimum filing requirements on. March 12, 2021.
<br />The Company has requested an increase in its retail rates and charges to generate $1.108 billion
<br />in additional gross annual revenue, effective January 1, 2022. 1 FPL also has requested an
<br />increase in its retail rates and charges to generate $607 million in additional gross annual
<br />revenue, effective January 1, 2023. Further, FPL has requested SoBRAs of approximately $140
<br />million for both 2024 and 2025.
<br />Historically, we have suspended requested permanent rate schedules in order to
<br />adequately and thoroughly examine the basis for the new rates. Suspension of a requested rate
<br />increase is authorized by Section 366.06(3), F.S., which provides:
<br />Pending a final order by the commission in any rate proceeding under this section,
<br />the commission may withhold consent to the operation of all or any portion of the
<br />new rate schedules, delivering to the utility requesting such increase, within 60
<br />days, a reason or written statement of good cause for withholding its consent.
<br />storm hardening plan, by Florida Power & Light Company; Docket No. 20160062-E1, In re: 2016 depreciation and
<br />dismantlement study by Florida Power & Light Companv: Docket No. 20160088-Ei, In re: Petition.for limited
<br />proceeding to modem and continue incentive mechanism, by Florida Power & Light Company.
<br />' id.
<br />' Order No. PSC -2021 -0062 -PCO -EL issued January 29, 2021, in Docket No. 20210015-E1, lit re Petition.for rate
<br />increase by Florida Power & Light Company.
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