Regulators Approve FPL Main Street Recovery Credit Program to Provide Relief for Small Businesses in 2021
By Space Coast Daily // December 2, 2020
offer credits qualifying small businesses impacted by COVID-19
BREVARD COUNTY, FLORIDA – The Florida Public Service Commission today approved Florida Power & Light Company’s new program to offer credits to qualifying small businesses that have been impacted by the coronavirus (COVID-19) pandemic.
The FPL Main Street Recovery Credit Program is the latest of several programs that the company initiated to show its steadfast support of adversely impacted customers during the global pandemic.
Establishments in FPL’s service area that are eligible to apply for the program include:
– New small businesses
– Small businesses that were inactive for at least six months in 2020
– Existing small businesses operating in federal Opportunity Zones in FPL’s service area
Qualifying small businesses would receive a monthly 10% credit on the energy charge portion of their electric bill for the duration of the program.
The company will implement the FPL Main Street Recovery Credit Program for qualifying small businesses in January and offer bill credits through the end of 2021.
Recent studies showed the toll the pandemic has taken on the state’s 2.7 million small businesses. Florida ranks fourth in the nation for business closures with 5,300 permanent closures and 3,300 temporary closures, according to a Yelp economic report.
A recent survey of more than 4,800 Florida small businesses conducted by the Florida Chamber Foundation found that:
– More than half of businesses either voluntarily closed or were forced to close
– More than 30% suspended operations during the survey
– More than 45% expressed concern about their ability to operate in the future
“Despite COVID-19’s unpredictability and disruptiveness, one thing remains clear – we are always committed to finding innovative ways to help our customers,” said FPL President and CEO Eric Silagy.
“We appreciate the Florida Public Service Commission’s quick and thorough review and approval of this new initiative to help our small businesses and independent stores that make up the fabric of our communities. This program is one more way FPL is helping to rebuild our economy and move Florida forward.”
Interested businesses can apply for the program on FPL’s website, www.FPL.com, beginning next month.
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