Time to Rein in FPL and its Excessive Rate Increases

Time to Rein in FPL and its Excessive Rate Increases

FPL is bleeding its customers dry to protect its massive profits. After already increasing rates this past year by more than $1 billion—raising customer bills by roughly 18 percent—FPL has plans to for additional increases later this year. This monopoly utility, which is protected from free market competition, intends to hit its customers with additional hikes for fuel costs, its storm protection plan, and its costs related to Hurricane Ian. In fact, FPL has gamed the system so it can raise customer rates for practically anything, including higher interests rates, higher taxes on its profits, inflation, and even its own bad investments. In the base rate increase it had approved by the Public Service Commission (PSC) last year, the company has even shifted its lobbying costs onto the shoulders of its customers. And should FPL happen to overcharge you on your electric bill, the company isn’t even required to reimburse you for it! Because FPL is allowed by the legislature and the PSC to rig the system and avoid free market competition, the company is not reducing its heavy reliance on expensive natural gas, which has more than doubled in price over the past year, to generate electricity. Solar, nuclear, and wind all now provide cheaper electricity than natural gas. FPL has no incentive to follow the market and make smarter investments as long as it can pass the higher costs onto its captive base of customers. Please use this form to write your state lawmakers and let them know you want FPL to bear the cost of its bad decisions—including its stubborn over-reliance on natural gas—and for its...
Invest in Clean Energy Infrastructure

Invest in Clean Energy Infrastructure

The energy market is changing dramatically in ways that play to our nation’s strengths. However, taking full advantage of this new market reality means that we must make the right infrastructure investments. That means additional transmission and distribution infrastructure, smart grid technology, robust security and resilience measures, and policies that foster more U.S. production of key energy technology components. If we do not go all in and really grab this opportunity, our country could lose out big time. China has been investing tons of money and working overtime to corner the market on new energy technology and on the products that drive its expansion in the marketplace. The United States must meet these challenges head on, or else the lion’s share of this new economic driver, and the jobs that go with it, will be...
Ask Your Senators To Support Bi-Partisan Oil & Gas Reform Legislation

Ask Your Senators To Support Bi-Partisan Oil & Gas Reform Legislation

The federal government’s system for leasing out our public lands for oil and gas development is in much need of reform. Taxpayers have been walked all over by a system that designed primarily to benefit oil industry speculators. In fact, large swaths of the American West have been gobbled up for as low as $2 per acre–well below fair market value. Taxpayers are also being fleeced by low royalty rates, abandoned wells, and a leasing binge over the past four years that ignored market conditions. Thankfully, bi-partisan legislation has been introduced to fix some of these problems and ensure that taxpayers receive a fair return. U.S. Senators Chuck Grassley (R-IA) and Jackie Rosen (D-NV) have stepped up to the plate, introducing the Fair Returns for Public Lands Act, which increases minimum bids, royalty rates, and rental rates. Another important reform bill, the End Speculative Oil and Gas Leasing Act, has been introduced by Senator Catherine Cortez Masto (D-NV), This bill will make it harder for speculators to use oil and gas leases to lock up lands that have little or no prospect for development–lands better managed for other purposes, such as hunting, fishing and other outdoor recreation. These two pieces of legislation, along with the current review of the leasing system being conducted by the U.S. Department of Interior, offer a unique opportunity to restore some fiscal sanity to oil and gas activity on our nation’s public lands. Bi-partisan support is needed for these prudent reforms, which are essential to restoring balance to the management of America’s public lands–lands which belong to all of us. Both pieces of legislation...

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