|Published:||Dec 14, 2010 7:28 PM EST|
|Updated:||Dec 14, 2010 4:28 PM EST|
TALLAHASSEE, Fla. (AP) - The Public Service Commission has approved a two-year freeze in base rates for Florida Power & Light Co., the state's biggest electric utility.
The commission Tuesday approved an agreement the company made with consumer advocates four months ago.
Base rates can be changed through 2012 only if the company's profit rate falls below 9 percent or tops 11 percent.
Action had been delayed by FPL's court challenge to Commissioner Nathan Skop's participation in its cases. The company alleges Skop is biased, which Skop denies.
The 1st District County of Appeal has not yet ruled but agreed to let Skop vote on the rate freeze agreement. The five-member commission unanimously approved it.
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