When FEMA’s new Risk Rating 2.0 pricing plan went into effect in April, the agency said it was more equitable and better reflects flood risk. The result is rate increases that will average more than 100% in coastal states like Louisiana and Florida. Some parishes in southeast Louisiana will see rates go up on average more than 500%.
The Florida Supreme Court recently heard arguments in two challenges to the Florida Public Service Commission’s approval in late 2021 of the four-year settlement, which began increasing FPL customers’ rates last year. The Supreme Court typically takes months to issue rulings after hearing arguments.
Florida lawmakers did not detail specific proposals for state oversight. However, concerns have been expressed about situations in which residents who are customers of municipal utilities but live outside of city boundaries can be forced to pay surcharges but can\’t vote for municipal officials — a situation likened to “taxation without representation”.
Representing consumers in utility issues, the state’s Office of Public Counsel launched a challenge to the approval of costs that electric utilities would be able to recoup in 2023 from customers for storm-protection projects. The first step was taken in appealing to the Florida Supreme Court on a Dec. 12 order by the state Public Service Commission approving the costs.
Utilities have traditionally been allowed to recover costs from customers after hurricanes, and a rate agreement approved last year by the Florida Public Service Commission contemplates FPL being able to make such a proposal. Depending on the timing, the restoration costs could add to electric bills that are already expected to increase next year for customers. CLICK ON THE HEADLINE FOR MORE
One industry consulting firm has influenced politics across Florida, Alabama and at least six other states Hundreds of pages of internal documents – which are only coming to light now because Matrix’s founders are locked in an epic feud – detail the firm’s secret work to help power companies like FPL protect their profits and fight the transition to cleaner forms of energy. CLICK ON THE HEADLINE FOR MORE
Trammell Crow has agreed to partner with Altus Power Inc. to install solar panels on 35M SF of Trammell\’s industrial portfolio by 2026, It is the latest acknowledgment from an industrial real estate holder that solar has become an attractive amenity for its buildings as tenants and investors alike demand a focus on sustainability. CLICK ON THE HEADLINE FOR MORE