FPL


How One Utility Is Using Tax Reform to Hide a Billion-Dollar Climate Problem

, Energy analyst

Picture this: You’ve just completed a decade of investing about $3 billion of your customers’ dollars into keeping the lights on when severe weather strikes. Now Hurricane Irma’s blasted through, 90 percent of your customers were left in the dark, and the restoration and repair costs you intend to bill them are estimated at $1.3 billion.

That’s right. A storm you’ve spent a decade preparing for is looking like it’ll end up costing nearly half as much as the preparations themselves. Worse, there’s no reason to think it won’t keep happening again, and again, and again, as climate change drives the intensity of these storms ever higher.

Bit of a thorny customer relations problem, that one.

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NOAA 2017
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