Senate Bill sb1656

    Florida Senate - 2005                                  SB 1656

    By Senator Fasano





    11-1075-05

  1                      A bill to be entitled

  2         An act relating to interim rates for water or

  3         wastewater utilities; amending s. 367.082,

  4         F.S.; providing that if the Public Service

  5         Commission does not approve the full amount of

  6         the final rate requested by the utility, the

  7         utility may keep only a portion of the interim

  8         revenues collected; providing a method to

  9         determine the total interim revenues the

10         utility may keep; requiring the utility to

11         refund the balance of interim revenues to the

12         customers of the utility; requiring the utility

13         to refund all revenues collected if the

14         commission does not approve a rate increase or

15         if the commission decreases the rates of the

16         utility; providing an effective date.

17  

18  Be It Enacted by the Legislature of the State of Florida:

19  

20         Section 1.  Subsection (8) is added to section 367.082,

21  Florida Statutes, to read:

22         367.082  Interim rates; procedure.--

23         (8)  Notwithstanding any other provision of this

24  section, if the commission does not approve the full amount of

25  the final rate requested by the utility, the utility may keep

26  only a portion of the interim revenues collected.

27         (a)  The maximum portion of the interim revenues a

28  utility may keep shall be determined by multiplying the total

29  interim revenues collected by a fraction calculated by

30  dividing the actual rate increase allowed by the commission by

31  the annual rate of increase requested by the utility. The

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2005                                  SB 1656
    11-1075-05




 1  balance of the interim revenues collected by the utility must

 2  be refunded to the customers of the utility.

 3         (b)  If the commission does not approve a rate increase

 4  or if the commission decreases the rates of the utility, all

 5  interim revenues collected by the utility must be refunded to

 6  the customers.

 7         Section 2.  This act shall take effect July 1, 2005.

 8  

 9            *****************************************

10                          SENATE SUMMARY

11    Provides that if the Public Service Commission does not
      approve the full amount of the final rate requested by
12    the utility, the utility may keep only a portion of the
      interim revenues collected. Provides a method to
13    calculate the total interim revenues the utility may
      keep. Requires the utility to refund the balance to the
14    customers of the utility. Requires the utility to refund
      all revenues collected if the commission does not approve
15    a rate increase or if the commission decreases the rates
      of the utility.
16  

17  

18  

19  

20  

21  

22  

23  

24  

25  

26  

27  

28  

29  

30  

31  

                                  2

CODING: Words stricken are deletions; words underlined are additions.