FPL, a regulated monopoly with more than 10 million customers in Florida, is currently making profits at about 11.6%, the most allowed under current law. But the company’s rate agreement ends this year, and it is now asking to be allowed profits of between 11.5% and 12.5%. Tampa Electric Company, which also has a rate case this year, is asking for 10.75%. And on Kelly’s last day on the job, he completed a settlement agreement with Duke Energy to lock in rates that would give the company profits of 9.85% return on equity. That agreement must still be approved by the PSC.
