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ORDER NO. PSC-2022-0358-FOF-EI
<br />DOCKET NO. 20210015 -El
<br />PAGE 2
<br />GEORGE CAVROS, ESQUIRE, Southern Alliance for Clean Energy, 120 E.
<br />Oakland Park Blvd., Suite 105, Fort Lauderdale, FL 33334
<br />On behalf of Southern Alliance for Clean Energy (SACE).
<br />SUZANNE BROWNLESS and SHAW P. STILLER, ESQUIRES, Florida Public
<br />Service Commission, 2540 Shumard Oak Boulevard, Tallahassee, Florida 32399-
<br />0850
<br />On behalf of the Florida Public Service Commission (Staff).
<br />MARY ANNE HELTON, ESQUIRE, Deputy General Counsel, Florida Public
<br />Service Commission, 2540 Shumard Oak Boulevard, Tallahassee, Florida 32399-
<br />0850
<br />Advisor to the Florida Public Service Commission.
<br />KEITH C. HETRICK, ESQUIRE, General Counsel, Florida Public Service
<br />Commission, 2540 Shumard Oak Boulevard, Tallahassee, Florida 32399-0850
<br />Florida Public Service Commission General Counsel.
<br />ORDER IMPLEMENTING FLORIDA POWER & LIGHT
<br />COMPANY'S RETURN ON EQUITY TRIGGER
<br />BY THE COMMISSION:
<br />BACKGROUND
<br />On August 23, 2022, Florida Power & Light Company (FPL or Company) filed a Notice
<br />of Triggering Revised Authorized Return on Equity (Notice) stating that pursuant to the terms of
<br />its 2021 Settlement Agreement,' as amended by Order No. PSC -2021 -0446A -S -EI, it was
<br />increasing its return on equity (ROE) to 10.8 percent and ROE range to 9.8 percent to 11.8
<br />percent, effective September 1, 2022.
<br />Sections 3(b) and (c) of the 2021 Settlement Agreement state as follows:
<br />(b) If at any time during the Term, but no more than once during the Term,
<br />the average 30 -year United States Treasury Bond yield rate for any period of six
<br />(6) consecutive months is at least 50 basis points greater than the yield rate on the
<br />date this Agreement is filed with the Commission (the "Trigger"), FPL's
<br />authorized ROE shall, after an elective filing by FPL, be increased by 20 basis
<br />points to be within a range of 9.8% to 11.8% with a mid -point of 10.8% ("Revised
<br />Authorized ROE") from the Trigger Effective Date defined below for and through
<br />the remainder of the Minimum Term, and for any period in which the Company's
<br />rates continue in effect after December 31, 2025, and then, until the Commission
<br />' Order No. PSC -2021 -0446 -S -EI, issued December 2, 2021, in Docket No. 20210015 -EI, In re: Petition for rate
<br />increase by Florida Power & Light Company, as amended by Order No. PSC -2021 -0446A -S -EI, issued December
<br />9, 2021, in Docket No. 20210015 -EI, In re: Petition for rate increase by Florida Power & Light Company.
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