Jeff Ostrowski
Alexandra Clough
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FPL says falling energy prices putting $1 bil back in Floridians’ pockets
Falling oil prices are a sliver of good news for consumers who are getting hammered by a cratering stock market and still-falling home prices.
Case in point: FPL Group said yesterday that 4.5 million customers of Florida Power & Light will pay $1 billion less than expected next year for fuel.
That’s not enough to end Florida’s recession, but it is something to feel happy about.
“It’s a pretty significant amount of money,” said University of Central Florida economist Sean Snaith. “The timing of it couldn’t be better. It’s an upward lift at a time when most other forces in the economy are pushing downward.”
Snaith calls falling energy prices “the one bright spot in an otherwise-dismal landscape.” Here’s a chart showing the spike and fall in natural gas — FPL’s main source of power generation — in the past year:
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