Corcoran Pulling The Plug On Utilitiy Fracking

May 1, 2017

House Speaker Richard Corcoran appears to be pulling the plug on a proposal by big power companies to invest in hydraulic fracturing operations in other states.

House Speaker Richard Corcoran is blocking a proposal that would let investor-owned utilities build investments in out-of-state fracking operations into their rate base.

The bi-partisan legislation would allow Florida Power & Light to build the cost of investing into its customer rate base.

Environment Florida’s Jennifer Rubiello applauds the decision.

“As we know, fracking is a significant contributor to climate change and here in Florida we are on the front lines of all the consequences of climate change, whether it’s sea level rise, ocean acidification.”

Power companies say the move will ultimately lower fuel costs.

But Corcoran told the Times/Herald he doesn’t think the concept is good for the people of Florida.

The legislation is a response to a recent Florida Supreme Court ruling.