FPL seeks state permission for charge customers $750 million annually to pay for natural gas

IndustriesAssociated Press

Florida Power & Light wants to charge its customers $750 million annually so it can get into the natural gas fracking business.

The state's largest utility asked a state regulatory board Monday for permission to form a partnership with an Oklahoma company. It says the investment would help it stabilize fuel prices and save its customers money in the long haul.

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Opponents include the state's largest commercial electricity users. They argued that the natural gas wells may not produce enough natural gas to justify the expense and warned against the possible environmental problems caused by fracking.

The Public Services Commission is expected to rule on the proposal by the end of the year.