The Florida Public Service Commission has issued a written order (Docket 140070-EI) approving FPL’s proposed three-year Voluntary Solar Partnership (VSP) Pilot Program. The PSC capped program marketing and administrative expenses at 20% of participant contributions. Interestingly, the PSC stated in its order: “If FPL is able to monetize RECs produced by the program, any revenue generated from REC sales will benefit participants by reducing the net revenue requirements that are to be covered by participant contributions.” This statement appears to depart from the conventional rationale of paying a premium for green power. The approved program will begin on May 1, 2015. Protests may be filed within 21 days of the PSC’s order.
In 2008, the PSC shut down a previous voluntary green power program offered by FPL, after an audit found that a significant portion of program contributions were spent on administration, marketing and management expenses.