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FPUA boards moves to adopt Florida PSC inflation index; electric and gas rates approved, water and wastewater advanced to second reading
Summary
The board voted Feb. 4 to adopt PSC-index adjustments. Resolutions increasing electric and natural gas rates by the 2024 PSC index (3.24%) passed on first reading; water and wastewater rate changes were advanced to a second reading scheduled for Feb. 18.
FORT PIERCE, Fla. — Fort Pierce Utilities Authority presented and advanced rate adjustments based on the Florida Public Service Commission annual price index during its Feb. 4 meeting, approving two resolutions for immediate adoption and moving two others to a required second reading.
Barbara Mica, FPUA chief financial officer, summarized the PSC index, which for the 2024 test year was 3.24 percent. Staff said the index applies differently across utility types: electric and natural gas adjustments exclude certain base power costs and therefore increase those rates by less than 3.24 percent in practice; water and wastewater adjustments are volume based and therefore reflect the full 3.24 percent change. The overall estimated impact on an average residential customer (1,000 kWh electric, 6,000 gallons water) was an increase of roughly $6.41 per month.
The board approved Resolution UA-2025-01 (electric) and UA-2025-02 (natural gas) on a single reading by unanimous roll call vote (Mrs. Bennett — yes; Mrs. Davis — yes; Mrs. Gibbons — yes; Mayor Hudson — yes; Chair Fee — yes). The board then approved moving Resolution UA-2025-03 (water) and Resolution UA-2025-04 (wastewater) to a required second reading; the board voted unanimously to set the second reading for Feb. 18 at 2:00 p.m. in the FPUA chambers.
Staff noted they had issued required public notices in the local paper, posted bill inserts and updated the website and Facebook page after correcting a publication time error. Mica said electric and gas rate changes take effect March 1 if approved; water and wastewater require the second reading to finalize projected changes.
Why this matters: The PSC index is an annual inflation-based adjustment widely used by utilities to keep rates aligned with operating cost inflation; FPUA staff said the adjustments are intended to avoid larger “rate shock” measures and to reflect rising material and operational costs, including storm hardening and infrastructure maintenance.
Board members and staff also discussed transparency and public outreach. The authority ran the statutorily required notices and staff said they would continue outreach through social media and the February 18 hearing. No public speakers came forward during the public-hearing portions of the resolutions on Feb. 4.
Ending: With unanimous votes on Feb. 4, electric and gas rate resolutions were adopted and water/wastewater adjustments were scheduled for the required second reading on Feb. 18; staff will return with final ordinance/resolution language and any additional public-notice summaries at that meeting.
