After resolving a few accounting issues, including the costs of utility poles, the Florida Public Service Commission gave the go ahead for Florida Power & Light to finance its costs of storm recovery from 2004 to 2005 through a securitization of about $700 million, after estimating that storm recovery costs reached $1.13 billion.

Florida Power & Light, which set its storm recovery costs at $1.7 billion, was disappointed with the commission's decision, and might contest it. During a conference call on Wednesday, officials at the utility said the decision effectively proposes a form of cost sharing that might put its shareholders at a disadvantage.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.