This bill amends various sections of Florida Statutes to enhance the transparency and accountability of the Florida Public Service Commission (PSC). Key changes include expanding the PSC's membership from five to seven commissioners, with specific qualifications for two members: one must be a certified public accountant and the other a chartered financial analyst. The bill mandates that all commission orders provide adequate support for their conclusions and detailed explanations for settlement agreements. Additionally, it requires the PSC 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 that exceed costs.

Furthermore, the bill establishes a process for the PSC to determine the nonprofit status of organizations based on specific criteria, allowing organizations to respond to challenges regarding their status. If an organization is deemed not to meet the criteria, it has 90 days to address the determination before being regulated as a utility. The bill also modifies the Rural Infrastructure Fund to allow grants for a significant portion of infrastructure project costs in rural areas and updates provisions related to the Municipal Solid Waste-to-Energy Program. 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