US 1 Transmission Line Update (presented by Pinecrest Mayor Cindy Lerner)
The Village (of Pinecrest) has been fighting for the past two years to keep the proposed FPL transmission lines from being located along US 1, that is, unless FPL agrees to underground them and incur the costs as part of their upgrades and infrastructure improvements. There are currently no transmission lines running along US 1 and we do not want to allow it under any circumstances, as it would cause irreparable damage to the future economic viability of the corridor. The City of Coral Gables is a partner in this litigation and we are also in a coalition with the cities of South Miami and Miami. This administrative proceeding will not be decided until sometime in the spring of 2013. In the meantime, we continue the fight on other fronts as well. FPL has not only been collecting additional fees from customers through Early Cost Recovery, a law they wrote and convinced the Legislature to pass back in 2006-2007, from which they have already collected $300 million additional charges which we the customers pay. But last month they also filed an application for a rate increase with the Public Service Commission which they were so brazen to say that they want their investors to see a higher return on their investment - higher than the 10.5% they now realize. Imagine the gall, for a public utility to ask for even higher rates from its customers, when they already get this Early Cost Recovery subsidy at OUR expense. So the Village and many other local governments plan to fight the proposal on behalf of our constituents.