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March 26, 2005
Florida Power and Light Seeks Rate Increase
The hurricane season wiped out FPL's surplus and left it with a big hole in its wallet.
The $354 million in the storm reserve, which took 11 years to build up, was exhausted by hurricanes Charley and Frances. There was nothing left in the fund to pay for damage caused by Hurricane Jeanne. Charley, Frances and Jeanne cost FPL and its customers $890 million - leaving a $536 million shortfall.
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Posted on March 26, 2005 07:32 PM by Hurric27.
Filed in Hurricane! under hurricane jeanne.
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