Where are those stimulus funds when you really need them?

Published January 18, 2010 5:00am ET



Florida Power and Light (FPL) recently announced that it was halting work on $10 billion worth of power generation projects, including two new nuclear reactors planned for its Turkey Point nuclear power station. The utility’s decision came after the Florida Public Service Commission (PSC) denied its request for a $1.27 billion rate hike to finance the expansion, allowing FPL only a “miniscule” $75.5 million increase – or 6 percent of the amount requested.

Last October, embattled Gov. Charlie Crist, who is facing a tough primary challenge, ousted two PSC members – including the chairman appointed by former Gov. Jeb Bush – after they were accused of being too cozy with the utilities they regulate.

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