PSC seeks pay information from Progress Energy Florida

The Florida Public Service Commission wants to know how much Progress Energy Florida pays its executives before it rules on whether to approve a rate increase for the company. The PSC asked Tuesday that the company disclose the compensation of those making more than $165,000, saying that information is needed to help them decide whether to raise customers' rates in January. Progress Energy Florida is requesting approval to increase basic rates by $500 million annually. For a residential customer using 1,000 Kilowatt hours per month – and most customers use more – the proposed rate hike will result in an increase of $13.83 per month, or about 31 and a half percent above the present rates. The PSC is also seeking executive pay information from Florida power and light which operates in south Florida. Florida Power & Light says it will appeal the ruling in court. Progress Energy Florida has not yet decided how it will respond.