TALLAHASSEE, Fla. (AP) - Florida Power & Light Co. wants to raise its base rate by $6.80 a month for the typical residential customer.
The state's largest electric utility notified the state Public Service Commission of its intent to seek the $695 million per year rate increase Tuesday.
If approved the new rates would go into effect in 2013 for the utility that serves South Florida and the state's east coast.
A customer using 1,000 kilowatt hours per month, which is about average, currently pays $94.62. The rate increase would raise that to $101.42.
Company officials said the higher rate is needed to pay for increases in the cost of doing business and to begin paying for a new, high-efficiency natural gas power plant after it enters service in June 2013.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.