Florida Utility’s Accounting Plan Okayed by State High Court

A regulator’s approval of two accounting methods that impact a Florida Power & Light subsidiary’s rate plan was blessed by a split Florida Supreme Court Thursday.

This decision would benefit Florida City Gas, a subsidiary of Florida Power & Light serving customers in several counties including Miami-Dade and Broward. The high court upheld the state Public Service Commission’s approval of one depreciation method that would result in a $52.1 million reserve surplus, as well as its approval of a proposed corrective measure that would use $25 million of that surplus.

The court’s majority held the state Public Service Commission has ...