Progress Energy to freeze rates through 2012
In an agreement between Progress Energy, Public Counsel JR Kelly and Attorney General Bill McCollum, the utility company that serves much of Tampa Bay has agreed to freeze its base rates for the next three years.
The agreement also caps the amount customers have to pay in case of catastrophic storms. Progress can also petition for "interim rate relief" if its profitability falls below certain benchmarks. The agreement (find it here) is subject to approval by the PSC.
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