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Progress Energy will ask for rate hike in Florida

Progress Energy Florida will ask the state to approve a 31 percent customer rate hike partly to help pay for two new nuclear power plants. The company said Friday the increase will amount to an extra $34.27 monthly for a user of 1,000 kilowatt hours. If approved by the state Public Service Commission later this year, the hike will take effect in January.

To access this article on-line: http://www.miamiherald.com/business/AP/story/664336.html

Progress Energy Florida will ask the state to approve a 31 percent customer rate hike partly to help pay for two new nuclear power plants. The company said Friday the increase will amount to an extra $34.27 monthly for a user of 1,000 kilowatt hours. If approved by the state Public Service Commission later this year, the hike will take effect in January.

Rising fuel prices and environmental improvements were other reasons cited for the proposed increase.

The company last month got state approval to build two new nuclear plants in Levy County at a cost of $17 billion.

Progress Energy Florida is the largest power provider in central Florida with about 1.7 million customers.

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