18 - Impact on South Miami economySouth Miami municipal FPL bill $204,856
FPL Franchise Agreement pass-through
payment to City of South Miami $1,197,000
Franchise fee effective rate 5.29%
Estimated annual FPL bill for all South
Miami rate payers (excl county bldgs)$22,832,455
total bill rate portion
Median residential bill $94.62 100.00%
base portion of bill $48.49 100.00%
proposed rate increase $6.97 7.37%14.37%
expected fuel savings ($4.49)-4.75%
net bill increase $2.48 2.62%
Total annual FPL bill for all South
Miami ratepayers:
Return to South Miami economy from
FPL's projected fuel savings without rate
increase $1,083,468
Net cost to South Miami economy from
rate increase (factoring in FPL's
projected fuel savings)$598,441
Increased return to FPL from rate
increase (to benefit shareholders) at
expense of South Miami rate payers $1,681,909