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In re: Request for approval of change in rate DOCKET NO. 20240057-E <br />used to capitalize allowance for funds used ORDER NO. PSC -2024 -0223 -PAA -El <br />during construction (AFUDC) from 6.37% to ISSUED: July 1, 2024 <br />6,76%, effective January 1, 2024, by Florida <br />Power & Light Company. <br />The following Commissioners participated in the disposition of this matter: <br />MIKE LA ROSA, Chairman <br />ART GRAHAM <br />GARY F. CLARK. <br />ANDREW GILES FAY <br />GABRIELLA PASSIDOMO <br />NOTICE OF =POSED AGENCY ACTION <br />ORDER APPROVING FLORIDA POWER & LIGHT COMPANY'S <br />AFUDC RATE <br />BY THE COMMISSION: <br />NOTICE is hereby given by the Florida Public Service Commission that the € ction <br />discussed herein is preliminary in nature and will become final unless a person whose interests <br />are substantially affected files a petition for a formal proceeding, pursuant to Rule 25-22.029, <br />Florida Administrative Code (F.A.C.). <br />BACKGROUND <br />Florida Power & Light Company's (FPL or Company) current Allowance for Funds Used <br />During Construction (AFUDC) rate of 6.37 percent was approved by Order No. PSC -2023 -0142 - <br />PAA -EI, issued April 24, 2023.1 On April 2, 2024, FPL filed a petition for approval to change <br />its AFUDC rate from 6.37 percent to 6.76 percent, effective January 1, 2024. As required by <br />Rule 25-6.0141(5), F.A.C., FPL filed with its petition Schedules A, B, and C identifying the <br />capital structure, capital structure adjustments, and the methodology used to calculate the <br />monthly AFUDC rate. We have jurisdiction over this matter pursuant to Chapter 366, Florida <br />Statutes (F.S.), including Sections 366.04, 366.05, and 366.06, F.S. <br />AFUDC ,rate <br />FPL requested an increase in its AFUDC rate from 6.37 percent to 6.76 percent. Rule 25- <br />6.0141(3), F.A.C., Allowance for Funds Used During Construction, provides the following <br />guidance: <br />`Order No. PSC -2023 -0142 -PAA -El, issued April 24, 2023, in Docket No. 20230031-E1, In re. Request for <br />approval of change in rate used to capitalize allowance for funds used during construction (AF Z)Q front 6.22% to <br />6.37% effective 111123, by Florida Power & Light Company. <br />23+ <br />