From the Tampa Bay Times, October 7:
Armando Pimentel said it will cost customers more in the long run if investors are ‘disappointed.’
The chief executive of Florida Power & Light took the witness stand Monday before utility regulators, testifying that the company’s request to hike rates by nearly $10 billion over the next four years is in the best interest of the Floridians it serves.
Armando Pimentel, president and CEO of the company, told regulators that its rate of profit, called a return on equity, must meet the expectations of its investors to keep the company on solid financial footing. Under the company’s proposal, Florida Power & Light shareholders would get the highest rate of profit of any electric utility company in the nation, analysts with research firm S&P Global Market Intelligence previously confirmed to the Tampa Bay Times. The utility is seeking a range of return with a midpoint of 11.9%.
“That’s what we think we deserve in this rate case,” Pimentel said.
That percentage is higher than what either Duke Energy Florida or Tampa Electric’s shareholders are authorized to earn. Both are higher than the national average. Florida Power & Light’s cases are often closely watched by the state’s other utilities, as the decisions can set the tone for their future proposals....
....MUCH MORE
As noted in May 2025's "Infrastructure: Blackstone Is Buying An Electric Utility (BX; TXNM)":
This
is something we will see more of, private equity in regulated
utilities. It's hard to asset-strip the darn things due to said
regulators but boy-oh-boy do they cash flow. Just ask Warren Buffet....
