FL
State Senator Travis Hutson
Ph:
386-446-7610 Ph: 850-487-5007
Fax: 888-263-3475 Fax: 850-487-5368
Fax: 888-263-3475 Fax: 850-487-5368
No other state that regulates investor-owned utilities has
allowed electric companies to charge ratepayers for natural gas drilling and
exploration projects.
Senate
Bill 1238 is bad for Florida consumers. Florida electric companies should not
be allowed to use ratepayer dollars to invest in risky natural gas reserve
development in other states. If this is such a great investment, let the
shareholders bear the financial risk.
Here is why AARP opposes the legislation:
It would let Florida electric companies take hundreds of
millions of dollars per year from residential ratepayers and use them to
finance out-of-state natural-gas exploration projects (fracking). You, the
ratepayer, would bear 100 percent of the risk of these ventures, regardless of
the drilling outcome.
The wildcat fracking projects would be paid for with
ratepayers’ dollars as investments and utility companies would claim a return
on your investment. If the utility company simply purchased natural gas on the
open market, the utility could recover the cost of the fuel from ratepayers but
could not earn an additional “windfall.”
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