TECO WANTS TO CUT A DEAL WITH THE PSC-Andrew Stelzer09/01/04
For the past year consumer advocates have been trying to force TECO to admit they signed a contract with one of their on subsidiaries to transport coal to Florida across the gulf of Mexico, and paid them more than the market rate, resulting in higher electricity rates for consumers. The State Public Service Commission had hearings on TECOs business practices related to the contract earlier this summer, and last week, the PSC staff came back with a recommendation to reduce the amount that TECO can recover from customers by between approximately 14 and 20 million dollars. Out of court settlement negotiations also broke down last week, and now TECO has come with their own settlement offer to the PSC, offering to accept bids on their contracts in the future, but not admitting any wrongdoing, not lowering their rates, and not agreeing to a bidding process which would force them to accept the lowest bid, a condition that lawyers for customers are insisting is necessary. WMNF spoke with Mike Twomey, lawyer for the consumer federation of the Southeast, about the latest offer by TECO.
That was Mike Twomey, lawyer for the Consumer federation of the Southeast.