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ORDER NO. PSC -2023 -0110 -PCO -EI DOCKET NO. 20230017 -El PAGE 2 FPL filed its petition pursuant to the provisions of the 2021 Settlement Agreement (2021 Settlement), which we approved in the Company's most recent rate case? Pursuant to the 2021 Settlement, the Company can recover storm costs on an interim basis beginning 60 days following the filing of a petition for recovery. FPL has proposed interim storm restoration charges applicable to all rate classes over a 12 -month recovery period, effective with the first billing cycle of April 2023, subject to a final true -up. We have jurisdiction over this matter pursuant to Sections 366.04, 366.05, 366.06, and 366.076, Florida Statutes. Decision FPL filed a petition for a limited proceeding seeking authority to implement an interim storm restoration recovery charge to recover an estimated total of $1.3 billion for incremental restoration costs related to Hurricanes Ian and Nicole and to replenish the storm reserve. In its petition, FPL requested to replenish the storm reserve to the pre -storm level of $219.9 million. The petition was filed pursuant to the provisions of the 2021 Settlement we approved in Order No. PSC -2021 -0446 -S -EI. Storm restoration costs for Ian and Nicole were incurred during the term of the 2021 Settlement. Pursuant to Paragraph 10 of the 2021 Settlement, FPL can begin recovery of storm costs 60 days following the filing of a petition for recovery. FPL is seeking approval of interim storm cost recovery surcharges associated with Hurricanes Ian and Nicole as shown in proposed tariff sheet No. 8.030.7 (Appendix F to the petition). The surcharges would be applicable to all rate classes and customers served by FPL, including customers previously served by GPC. FPL also prepared an alternate storm charge calculation seeking authority to implement an interim storm restoration recovery charge to recover an estimated total of $I.5 billion. This alternate calculation combines the incremental restoration costs related to .Hurricanes Ian and Nicole with the remaining amounts to be collected for Hurricanes Michael, Sally, and Zeta, which we previously approved for recovery by GPC, 3 and to replenish the storm reserve. Current bills for FPL's Northwest Florida customers include surcharges for Hurricanes Michael and Sally, which equate to $8 and $3 on the residential 1,000 kilowatt-hour (kWh) bill, respectively. The Hurricane Michael surcharge went into effect in July 2419 and was approved to terminate in October 2023. Once the Hurricane Michael surcharge terminates, the $3/1,000 kWh residential Hurricane Sally surcharge will increase to $10/1,000 kWh. Once recovery of Hurricane Sally is complete in October 2024, the recovery of Hurricane Zeta ($9:34/1,000 kWh) will occur in the months of November and December 2024. These hurricanes impacted GPC's service territory prior to the merger of FPL and GPC. Tariff sheet Nos. 8.030.4, 8.030.5, and 8.030.6 show the currently approved surcharges for Michael, Sally, and Zeta, applicable to FPL's 20rder No. PSC -2021 -0446 -S -EI, issued December 2, 2021, in Docket No. 20210015-E1, In re: Petition for rate increase by Florida Power & Light Company. 'Order Nos. PSC -2019 -0221 -PCO -EI; and PSC-2022-0406-FOF-EI. 4 113