Florida Public Service Commission Grants Confidential Classification to Florida Public Utilities Company's Rate Increase Request

Strategic Insights -

The Florida Public Service Commission (PSC) has issued an order granting confidential classification to certain information related to Florida Public Utilities Company's (FPUC) rate increase request. The commission ruled that the information provided by FPUC, including details about potential future issuances of Chesapeake Utilities Corporation's (CUC) common stock, is proprietary confidential business information that should be protected from disclosure. The commission further determined that disclosure of this information could have an adverse impact on CUC's share price and its ability to fund its growth capital with equity financing.

Key Takeaways:

  • The Florida Public Service Commission granted confidential classification to FPUC's request for rate increase, citing that the information provided is proprietary confidential business information under Section 366.093, Florida Statutes.
  • The information in question pertains to potential future issuances of CUC's common stock, which FPUC argues is intended to be and is treated as private and has not been publicly disclosed.
  • The commission found that disclosure of this information could harm CUC's ratepayers or business operations and is therefore exempt from Chapter 119, Florida Statutes.
  • The information will remain protected from disclosure for a period of up to 18 months from the date of issuance of this Order, as set forth in Section 366.093(4), Florida Statutes.
  • Parties adversely affected by this order may request reconsideration or judicial review under Sections 120.57 or 120.68, Florida Statutes.
  • The commission notes that mediation may be available on a case-by-case basis and does not affect a substantially interested person's right to a hearing.

Statistics:

  • The Florida Public Service Commission has granted confidential classification to FPUC's request for rate increase.
  • The information in question pertains to potential future issuances of CUC's common stock.
  • The commission order will remain in effect for a period of up to 18 months, as set forth in Section 366.093(4), Florida Statutes.
  • Parties may request reconsideration or judicial review under Sections 120.57 or 120.68, Florida Statutes.
  • Mediation may be available on a case-by-case basis.

Sources:

  • "Before the Florida Public Service Commission In re: Petition for rate increase by Florida Public Utilities Company," Docket No. 20240099-EI, Order No. PSC-2024-0494-CFO-EI (Dec. 12, 2024).