FPL announces its profit up 37% in fourth quarter

Juno Beach-based Florida Power & Light Co. made a $170 million profit in the fourth quarter of 2006, up 37 percent from its $124 million profit a year earlier, the company's parent, FPL Group Inc., said Friday. Full Story
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Wrong move

Delray Beach, FL

#1 Jan 26, 2007
Legalized stealing.
dont live in south fla

Melbourne, FL

#2 Jan 26, 2007
I dont know how these guys get by on those salaries, but this profit means its time to raise the rates.

Mr. Lewis Hay III, 51
Chairman,$ 2.74M $

Mr. James L. Robo , 44
Pres and Chief Operating Officer $ 1.19M $
I can see why

Toronto, Canada

#3 Jan 26, 2007
Our rates are through the roof. Were paying 3x the amount in bills as compared to 6 years ago. F FP&L...between the insurance and increased electric bills...It's getting old!
Brad

West Palm Beach, FL

#4 Jan 26, 2007
Shouldn't this be a not for profit system run by the state? Or how about a set profit to cover storm damage to the system and naturally rising costs? Why should shareholders benefit from utilities?

Same with storm insurance.
transplanted

Lusby, MD

#5 Jan 26, 2007
is anyone shocked ... they need to raise rates for infracture but have a 170 mil in profit ... I think they are taking lessions from the oil companies ...

“Yankee Redneck”

Since: Dec 06

Original 13 States

#7 Jan 27, 2007
2006 Profits UP 37%
2006 My/Your Bill UP 25%

Forecast for 2007
2007 Profits UP 40%
2007 My/Your Bill UP 30%

Does not take a rocket scientist to figure how to make more money in this business !!!!!!!!
Pierre

Abidjan, Cote D'Ivoire

#9 Jan 27, 2007
I pay, typically, more than $300/month for electricity. No wonder!

What's the argument for continuing to pay those huge "fuel" charges, given these exorbitant profits?
MJD

Pompano Beach, FL

#10 Jan 27, 2007
That's funny my profits are down 37% and theirs are up 37%!!!!
With insurance it's down 50%, so I'm waiting to hear from my insurance co. how their profits are up 50%!!!!
I guess all that after hurricane pole replacing wasn't that expensive huh???...or was it done???
ok ok

Key West, FL

#11 Jan 27, 2007
So, I guess this means our bills will be going UP yet again? I hope they don't make a 75% profit next quarter; we'll be paying as much for FPL as homeowner's insurance. What a scam. Why doesn't the gouging law apply here, Crist, former-Attorney General?
FED UP

AOL

#12 Jan 27, 2007
Again everybody wins during a hurricane.Except us Mr. and Ms tax payer. Insurance, FPL etc win big and our scumbag polititians walk them all to the money which of coarse is us. All the polititians get to pay off on the money these organization pay them to get elected . Wake up America .Never vote yes on any tax increase no matter how good a lie they think up there coffers have been full. All they do is squander our money .
general lee

Boynton Beach, FL

#13 Jan 27, 2007
So, long as were being taken by everyone else, and they made it look so easy. the power company wants their turn, so bent-over and spread-em! wide (FPL) coming inside. and went there finish hole that posistion for bubby. next company that wants some of those florida dollars.

Since: Dec 06

Pompano Beach, FL

#14 Jan 27, 2007
I suggest everyone to email Mr. Crist this story.

charlie.crist@myflorida.com
Scam Artist

United States

#15 Jan 27, 2007
Why I am not surprise here???? Let "rape" comsumers some more so the "Fat Cats" can justify their enormous salaries and bonuses.....Can we have some competition against these monolistic giants....you will see how fast prices will in in sync....they will learn stash some of their profits for a rainy day or go out of business....
angry customer

Fort Lauderdale, FL

#16 Jan 27, 2007
fpl is just as big liars/theives as the insurance industry. always crying that they r losing huge amts of money--even after disasters hit--when in reality they r cleaning up like nobodies business.
lets not get started about how our florida politicians tremble at the mention of fpl/insurance companies due to their being afraid or losing money and personal perks from them in all aspects of the politicians life--on the job and off the job. the payoffs for florida legislators r too great for them to fight for the people of florida against high rate increases for fpl and the insurance industry.
DRS

Miami, FL

#17 Jan 27, 2007
Yea cause there RIPPING EVERYBODY OFF........
Boca Joe

Delray Beach, FL

#18 Jan 27, 2007
Get off the grid !!
Dan Fero

Stoddard, NH

#20 Jan 27, 2007
This is a regulated industry who's profits ought to be limited at least to the point that a healthy percentage be plowed back into infrastructure improvements. Contact your local legislators and demand a bill which mandates a portion of revenues be spent in such manner.
I am Stupid

AOL

#21 Jan 27, 2007
An astounding kick in the teeth to the people of Florida. OUR government let's them raise rates and line the pockets of shareholders and company big shots - look at the profits. Must be nice to have shills in government.

Not even mentioned in this article which is horrible journalism.

Electricity should be a non-profit public utility!
Cathy

Pompano Beach, FL

#22 Jan 27, 2007
Everyone here is complaining about FPL's profits. And yet, several weeks ago there was an article about Ft Lauderdale city commission exploring the possibility of booting FPL when their franchise runs out. The thought is to replace our system with a system similar to what they have in Orlando.

But all the responses to that article were readers screaming that the city wouldn't be capable of running the system (the city would contract out to a bonafide electrical provider) and "it will cost us even more money". Booh, hooh, hooh!

In Orlando, the electric company gives back all profits to the city at the end of the year.
I'll never forget after Wilma, how many of those out of state electric workers remarking on how nobody even uses much of the equipment FPL uses anymore, it's too outdated. Wake up, guys! We have to explore other options, stop complaining and be innovative.
Fred Novak

United States

#23 Jan 27, 2007
No where in this article do I see the

huge increase in our monthly power

bills...With this level of profit,

isn't it time to go back to pre-storm

rates???

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