September 15, 2009

FPL's Full Page Lie

[fp&L.JPG]Eye On Miami posted an image of a full page add that FPL Group shareholders ran in the Miami Herald on September 14, 2009.

In it, FPL bravely hints that people are opposed to its proposed rate hike because FPL is "too cozy" with the Public Service Commission.

And of course that's a lie; most of us feel that it is the Public Service Commission that is too chummy with FPL. But that's only a minor fib that they glibly pass off in the hopes of making themselves look like a victim instead of a very profitable company that pays healthy dividends every quarter.

Buried in its claims is the whopper:
Our rate proposal would result in electric bills for the typical residential customers and small businesses going down, not up.
Say what? They're going to charge us more, but they claim that's going to cost us less? Maybe in that crazy bearded Spock universe, but in this universe, when you charge more for something, it always means that your customers pay more to get it.

So how can they even attempt to spew this whopping lie with a straight face? Well, here's the very next sentence that follows the quote above:
That's because a base rate increase would be more than offset by lower fuel prices and gains in fuel efficiency.
But that still works out to be a lie; if, as they claim, the cost of fuel going down and increased efficiency means that they won't be buying as much of it in the future so they will be spending less on it, it means that it is the lower cost of fuel and increased efficiency that's lowering our bill, not the rate increase as they claim in their advertisements.

And of course, if fuel costs rise, we, the consumer, will end up paying more, because we're not only paying for the increase, but the nearly one-third increase they are hoping to get.

The smarmy ad concludes:
Let's stop playing politics with our energy future and stick to the facts.
OK. Let's.

FACT: in the aftermath of hurricans Katrina and Wilma, tens of thousands of FPL customers sat in the dark for days, and in many cases weeks, waiting for FPL and emergency teams to replace rotted poles and powerlines knocked down by tropical storm and hurricane winds. People lost money because they couldn't go to work; businesses lost money because they couldn't open. And how much did FPL lose, considering that the lost revenue for weeks on end? Not a cent. They got the state to reimburse them for the lost revenue. They didn't even lose money on the damaged equipment. In fact, that fiscal quarter was a very profitable one for their stockholders.

FACT: FPL has asked for this raise in order to increase its profit margin. Why? To make MORE money. And what that means is that FPL is currently very profitable; they are not losing money. They are making profits. They've just decided that, in an economy where people are losing their jobs and homes and health care coverage, they need to be making much more money than the money they are already making.

The only party to benefit from FPL's proposed rate increase are FPL Group shareholders. This rate increase is to feed FPL's greed, nothing more.


  1. You know what FPL stands for, don't you?

    Pilfer &

  2. So, you're saying this is a good time to buy stock in FPL?

  3. There's never been a bad time to buy FPL stock. If the PSC actually protects the consumer, you would still get a healthy return on your investment.