FPL To Refund $105 Million To Customers As Part Of Current Rate Agreement
May 11, 2001

Florida Power & Light Company customers will receive a pleasant surprise in their June bills when FPL refunds approximately $105 million through the revenue-sharing feature of its current rate agreement. The average residential customer who uses 1,134 kilowatt-hours a month will see a one-time credit of approximately $17.20 on the June bill.

The refund is part of a three-year rate agreement reached in April 1999 between FPL and Public Counsel Jack Shreve and unanimously approved by the Florida Public Service Commission. Under that agreement, FPL reduced rates for its customers by $350 million a year and provided for revenue sharing between the utility and its customers when revenues exceeded certain levels.

"We're pleased to be able to provide this refund to customers at a time when hot summer weather and very high fuel costs may be combining to boost electricity bills," said Paul Evanson, FPL president. "This is an outstanding example of how incentive-based rate agreements can benefit customers," Mr. Evanson said. FPL refunded $22.8 million to customers through revenue sharing last year. The larger refund this year is due primarily to continued strong customer growth and increased electricity usage resulting in part from the extended cold weather this past winter.

"While the refund will help reduce the impact somewhat on June bills, we encourage our customers to use good energy efficiency and conservation measures throughout the upcoming hot summer months," Mr. Evanson said.

Customers can get helpful information such as energy conservation tips, low-cost energy efficient improvements and billing options by visiting FPL on the Internet at http://www.fpl.com/ or by calling an FPL representative at 1-800-DIAL FPL.

Florida Power & Light Company is the principal subsidiary of FPL Group, Inc. , one of the nation's largest providers of electricity-related services with annual revenues of more than $7 billion. The company serves approximately 3.9 million customer accounts in Florida. FPL Energy, LLC, FPL Group's U.S. and international energy-generating subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at www.fpl.com.


SOURCE: Florida Power & Light Company

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