What About Florida? Energy Efficiency, Solar Energy, & Regulatory Backwardness In The Sunshine State (Part…
For traditional investor-owned utilities (IOUs) in Florida, corporate policy remains keyed on maximizing electricity sales and effectively justifying construction of new generation resources that are a high source of profit for stockholders. As regulated monopolies, IOUs are guaranteed a profit by the public service commission (PSC) both for selling electricity and associated transmission lines, but particularly for building power plants. And Florida with its fast-growing population and thus expanding residential sector with high levels of cooling electricity use has guaranteed the need for new power plants. As such, the state has been a gold mine for its IOUs in the state — the average household spends nearly $2000 annually for electricity. With millions of accounts, this is a multi-billion-dollar revenue stream.