The Florida Public Service Commission will hold fuel adjustment hearings this week to decide how much Progress energy Florida can charge customers next year for the fuel it uses to generate electricity. If the Commission approves the request made in September by Progress energy, customers should see a drop in fuel charges. Progress Energy filed its projected 2010 fuel estimates on September 14th and at that time they said lower fuel costs could cut nearly 10 dollars a month off a monthly residential customer bill for 1,000 kilowatt-hours of electricity. Commercial and industrial customers would see similar price drops. The company said the decrease in the fuel portion of electricity bills is due to lower fuel prices, improvements to power plant efficiency and effective fuel management. The fuel charge appears as a separate line item on customer bills. Utilities are allowed to recover the prudently incurred fuel and purchased power costs necessary to meet customer demand but may not earn a profit on fuel purchases. If approved by the PSC the new fuel rates would take effect in January.
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