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FPL Wants State Approval For Natural Gas Plan

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TALLAHASSEE (CBSMiami/AP) - Florida Power and Light wants to get into the natural gas fracking business and wants its customers to pick up the $750 million a year tab.

The state's largest utility has asked a state regulatory board for permission to form a partnership with an Oklahoma company. It says the investment would help it stabilize fuel prices and save its customers money in the long haul.

Opponents include the state's largest commercial electricity users. They argued that the natural gas wells may not produce enough natural gas to justify the expense and warned against the possible environmental problems caused by fracking.

The Public Services Commission is expected to rule on the proposal by the end of the year.

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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