FORT PIERCE, FL., October 22, 2009 -FPUA staff anticipates that they will be able to lower the electric Power Cost Adjustment (PCA) by the end of this year. The majority of the non-competitive natural gas hedging contracts that FPUA's wholesale power provider, Florida Municipal Power Agency (FMPA), entered into will expire at the end of October. FPUA was facing a $4 million PCA under-collection back in June as a result of the high fuel costs, but that has been fully recovered as of September 30 th. Some additional over-collection is anticipated over the next few months and will be needed to offset the higher wholesale prices that typically occur in the spring.

FPUA staff and board members have been working diligently with FMPA staff and other FMPA member utilities to revamp FMPA's fuel hedging program to assure that it will not put FMPA in a non-competitive position in the future. They are also involved with evaluation of all FMPA business practices with the intent of returning FMPA to a competitive position in the wholesale power market. FPUA staff will continue adjusting the PCA to balance wholesale power costs with revenues in a manner that keeps rates as low as possible and provides the most stability to customer's bills.

About FPUA: Fort Pierce Utilities is a municipal utility whose mission is "to provide our customers with economical, reliable and friendly service in a continuous effort to enhance the quality of life in our community." Fort Pierce is one of more than 2,000 communities in the United States served by a community-owned electric utility, and one of very few who also provide water, wastewater, natural gas, and Internet services. Public utility systems are owned by the people they serve. All benefits from our locally controlled utility remain right here in the community. Additional information is available at www.fpua.com.