This bill amends various sections of Florida Statutes concerning the Florida Public Service Commission (PSC) to enhance transparency and accountability. It expands the PSC's membership from five to seven commissioners, requiring specific qualifications for two members, including a certified public accountant and a chartered financial analyst. The bill mandates that all commission orders provide adequate support for their conclusions and include detailed explanations for accepting or denying settlement agreements. Additionally, it requires the commission to maintain the allowable return on equity for public utilities close to the risk-free rate and to justify any upward deviations. Other provisions include a schedule for rate change requests, an annual report to the Governor and Legislature on economic analyses related to rate changes, and requirements for storm protection plans to demonstrate customer benefits exceeding costs.

Furthermore, the bill establishes a process for the PSC to determine whether organizations qualify as nonprofits based on specific criteria, allowing organizations to respond to challenges regarding their status. It also modifies the Rural Infrastructure Fund to provide grants for infrastructure projects in rural areas and updates the Municipal Solid Waste-to-Energy Program to prevent grant funds from subsidizing electric power sales to small utilities. The definition of utilities is updated, and a waiver of customer liability provision is introduced, allowing regulated companies to offer temporary waivers under certain conditions. The act is set to take effect on July 1, 2025.

Statutes affected:
S 354 Filed: 350.01, 366.06, 366.81, 366.82
S 354 c1: 350.01, 366.07, 367.022, 288.0655, 377.814, 624.105