Citizens of the State of Florida v. Art Graham, etc.
The PSC approved the recovery of FPL's costs incurred through its joint venture with an oil and natural gas company to engage in the acquisition, exploration, drilling, and development of natural gas wells in Oklahoma. The court agreed with appellants that the PSC lacks the authority to allow FPL to recover the capital investment and operations costs of its partnership in the Woodford gas reserves through the rates it charges consumers. Because the PSC exceeded its statutory authority when approving recovery of FPL’s costs and investment in the Woodford Project, the court reversed the judgment. View "Citizens of the State of Florida v. Art Graham, etc." on Justia Law