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If you're looking for good news on fuel prices, stop reading now.
Progress Energy's fuel rate increase this summer won't be the last, according to documents filed with the Public Service Commission. The St. Petersburg utility told the commission that it may have to raise monthly bills in January by $5 for each 1,000 kilowatt hours — roughly $6 a month for the average bill — to cover the soaring cost of fuel.
"If current economic trends continue, it could be at least that much more," said C.J. Drake, a Progress Energy spokesman.
This comes on top of an increase that the commission is set to consider Tuesday. Progress Energy has asked for an additional $12.07 per 1,000 kilowatt hours to pay for the coal, oil and natural gas that runs power plants. If approved, that increase will appear on bills starting Aug. 1.
Several utilities throughout the state, including Florida Power & Light, the state's largest, have asked for increases to cover the unexpectedly steep rise in the cost of coal, natural gas and oil. Utilities are not allowed to profit from fuel. It is a pass-through to consumers.
The fuel increases sought by Progress Energy don't include increases planned by the utility to cover the cost of clean air measures, power plant upgrades and its planned $30-billion nuclear project.
Asjylyn Loder can be reached at aloder@sptimes.com or (813) 225-3117.
How your bill might change
– $3.61 (July)
Why: Deletion of surcharge used to build the utility's hurricane fund
+ $12.07 (Aug. 1)
Why: Higher fuel costs
+ $5.00 (January)
Why: Higher fuel costs
+ $7.50 (January)
Why: $17B Levy nuclear project
+ 71 cents (2009-2011)
Why: Increase of electric output of Crystal River nuclear plant
+ $3.50 (2009-2016)
Why: Clean air upgrades at Crystal River and Anclote plants
Source: Progress Energy
Note: All amounts per 1,000 kwh. Average Progress Energy household uses 1,178 kwh a month. Different rates may apply.
[Last modified: Jun 30, 2008 01:31 PM]
Comments on this article
by darryl
Jun 30, 2008 1:31 PM
isnt it nice how companys can raise things for the rise in fuel costs?what do they think its just them that the fuel cost effects?as citizens can we charge these companys for our fuel exspences when we go to pay these bills,or shop at there stores?
by John
Jun 28, 2008 8:30 PM
How about forcing this for-profit company with a rising stock price to tap into some of its HUGE cash reserves before passing operating costs onto customers. They can afford to absord the increase - just look at the balance sheets.
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