Florida, Power, and Light (FP&L)

Florida, Power, and Light (FPL) is still begging for more money. Check out this recap of oddities:

October 16, 2009(1): Approval to bill customers for $62.7 million to pay for nuclear plants that they do not even have the approval to build. You have to wonder if some of this is to cover the Oct 8 blackout fine.

October 11, 2009(1): FP&L wants to raise rates $1.3 billion per year.

October 8, 2009(1): FP&L required to pay $25 million fine for blackouts.

September 30, 2009(1): Questions surround FP&L pay to executives.

September 28, 2009(1): FP&L president sold $3.9 million in stock. Did the president know about the impending fine that FP&L would be paying?

September 23, 2009(1): AARP wants the Florida Public Service Commission to stop FP&L’s rate increases.

June 30, 2009(2): Quarter ending results: 11.33% profit margin, $16.91 billion revenue, $5.47 billion gross profit – What private company wouldn’t want this? Still they beg for money from overstretched consumers in a bad economy.

April 28, 2009(3): 90 cent EPS beats the Wall Street expectations of 77 cents. Wow! That is about 17% more than expected.

(1) Reported by PalmBeachPost.com
(2) Retrieved from finance.Yahoo.com, October 23, 2009
(3) Reported by Reuters.com