This bill proposes significant amendments to Florida Statutes concerning the Public Service Commission (PSC) and its operations. It expands the PSC's membership from five to seven commissioners, stipulating that one must be a certified public accountant and another a chartered financial analyst. The bill also requires the PSC to establish a schedule for public utility companies to submit rate change requests and updates legislative findings on energy efficiency and conservation, emphasizing the use of cost-effective renewable energy systems. Additionally, it modifies the PSC's annual report requirements to include analyses of the economic impacts of rate changes and benchmarking against other states' utilities, thereby enhancing transparency and accountability.

Moreover, the bill addresses the financing of nuclear asset-recovery costs by electric utilities, reenacting provisions in section 366.95 that outline the process for financing orders. It mandates the PSC to publish a case schedule within seven days of a petition and to issue a financing order or reject the petition within 135 days. The bill emphasizes the need for the PSC to assess the reasonableness and prudence of nuclear asset-recovery costs, ensuring that the financing method is cost-effective. It also details the commission's responsibilities in issuing financing orders, including establishing a true-up mechanism for charge adjustments and reviewing bond issuance costs to align with market conditions. The bill is set to take effect on July 1, 2025.

Statutes affected:
S 354 Filed: 350.01, 366.06, 366.81, 366.82