Florida Public Service Commission
What changed between versions
New requirement for the commission to negotiate settlement terms with the Public Counsel before approval, ensuring public representation in major agreements.
New mandate for the commission to explicitly consider and address 'affordability' in rate proceedings, adding this criterion to the standard of 'fair, just, and reasonable' rates.
Creation of a new section allowing third-party associations to formally intervene in commission proceedings based on the impact on their membership.
Establishment of a strict schedule for public utilities to submit rate change requests, with limited exceptions for unforeseen circumstances.
New rules requiring financial models used for rate-setting to be financially logical and generally accepted by industry practitioners.
Creation of a new process for utilities to recover interim storm-recovery costs quickly, subject to a later 'true-up' to ensure accuracy.
New annual reporting requirement detailing executive officer compensation and highlighting any pay exceeding industry averages.
Updated the commission's authority to explicitly fix 'affordable' rates in addition to fair and reasonable ones.
