Supreme Court To Hear Arguments On FPL Drilling Investment

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TALLAHASSEE (CBSMiami/NSF) - The Florida Supreme Court will hear arguments December 8th about a controversial decision by state regulators to allow Florida Power & Light to invest in a natural-gas drilling project and pass along the costs to customers.

The state Office of Public Counsel, which represents consumers in utility issues, and the Florida Industrial Power Users Group challenged the December 2014 decision by the Florida Public Service Commission.

The decision stemmed from FPL's plan to invest in a natural-gas drilling project in Oklahoma, a move the utility said could help serve as a hedge against higher gas prices in the future. But critics argued that the project posed a financial risk and that it did not meet legal requirements for passing along costs to customers.

The News Service of Florida contributed to this report.