EX-99.A 3 exhibit99a.htm EXHIBIT 99(A) EXHIBIT G

Exhibit 99(a)

SEMIANNUAL SERVICER CERTIFICATE

Pursuant to Section 3.01(b)(iii) of the Storm-Recovery Property Servicing Agreement, dated as of May 22nd, 2007 (the "Agreement"), between FLORIDA POWER & LIGHT COMPANY, as servicer and FPL RECOVERY FUNDING LLC, the Servicer does hereby certify, for the February 1, 2008 Payment Date, as follows:

Capitalized terms used herein have their respective meanings as set forth in the Agreement. References herein to certain sections and subsections are references to the respective sections of the Agreement.

1.

Estimated Storm-Recovery Charges and Aggregate Amounts Available for the Current Payment Date:

     
 

i.

Amount Remitted May 2007: $0.00

 

ii.

Amount Remitted June 2007: $4,306,320.77

 

iii.

Amount Remitted July 2007: $5,639,307.35

 

iv.

Amount Remitted August 2007: $8,054,016.68

 

v.

Amount Remitted September 2007: $6,338,804.20

 

vi.

Amount Remitted October 2007: $6,428,105.04

 

vii.

Amount Remitted November 2007: $6,921,540.14

 

viii.

Amount Remitted December 2007: $4,197,038.38

 

ix.

Amount Remitted January 2008: $5,405,034.91

 

x.

Total Amount Remitted for this Period (sum of i. through ix. above): $47,290,167.47

 

xi.

Net Earnings on General Account: $638,884.50

 

xii.

Operating Expenses Paid to Date: $3,500

 

xiii.

General Subaccount Balance (sum of x. and xi. above minus xii.): $47,925,551.97

 

xiv.

Excess Subaccount Balance: $0.00

 

xv.

Capital Subaccount Balance: $3,364,720.45

 

xvi.

Defeasance Subaccount Balance: $0.00

 

xvii.

Collection Account Balance (sum of xiii. through xvi. above): $51,290,272.42


2.


Principal Balance Outstanding as of Prior Payment Date by Tranche:

     
 

i.

Tranche A-1

$124,000,000.00

 

ii.

Tranche A-2

$140,000,000.00

 

iii.

Tranche A-3

$100,000,000.00

 

iv.

Tranche A-4

$288,000,000.00

 

v.

Total:

$652,000,000.00


3.


Required Funding/Payments as of Current Payment Date:

     
 

a)

Projected Principal Balances and Payments

     
   

Projected Principal Balance

 

Principal Due

           
 

i.

Tranche A-1

$ 99,784,541.00

 

$24,215,459.00

 

ii.

Tranche A-2

$140,000,000.00

 

$0.00

 

iii.

Tranche A-3

$100,000,000.00

 

$0.00

 

iv.

Tranche A-4

$288,000,000.00

 

$0.00

 

v.

Total:

$627,784,541.00

 

$24,215,459.00

 


b)


Required Interest Payments

             
   


Interest Rate

 

Days in
Applicable Period

 


Interest Due

               
 

i.

Tranche A-1

5.0530%

 

249

 

$4,333,789.67

 

ii.

Tranche A-2

5.0440%

 

249

 

$4,884,273.33

 

iii.

Tranche A-3

5.1273%

 

249

 

$3,546,382.50

 

iv.

Tranche A-4

5.2555%

 

249

 

$10,468,956.00

 

v.

Total:

       

$23,233,401.50

     
 

c)

Projected Subaccount Payments and Levels

   

Subaccount Funding

 

Projected Level

 

Funding Required

Capital Subaccount

 

$3,260,000.00

 

$0.00

         


4.


Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02 of Indenture:

     
 

a)

Operating Expenses

     
 

i.

Trustee Fees and Expenses:

$0.00

 

ii.

Servicing Fee:

$225,483.33

 

iii.

Administration Fee:

$86,458.33

 

iv.

Other Operating Expenses (subject to [ $ _N/A_ ] cap):

$0.00

 

v.

Total:

$311,941.66

     
 

b)

Interest

     

Aggregate

 

i.

Tranche A-1

$4,333,789.67

 

ii.

Tranche A-2

$4,884,273.33

 

iii.

Tranche A-3

$3,546,382.50

 

iv.

Tranche A-4

$10,468,956.00

 

v.

Total:

$23,233,401.50

       
 

c)

Principal

     

Aggregate

 

i.

Tranche A-1

$24,215,459.00

 

ii.

Tranche A-2

$0.00

 

iii.

Tranche A-3

$0.00

 

iv.

Tranche A-4

$0.00

 

v.

Total:

$24,215,459.00

     
 

d)

Other Payments

     
 

i.

Operating Expenses (in excess of [$______]):

$0.00

 

ii.

Funding of Capital Subaccount (to required amount):

$0.00

 

iii.

Interest Earnings on Capital Subaccount to FPL Recovery Funding, LLC

$0.00

 

iv.

Deposits to Excess Subaccount:

$164,749.81

 

v.

Total:

$164,749.81


5.


Outstanding Principal Balance and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):

     
 

a)

Principal Balance Outstanding:

     
 

i.

Tranche A-1

$99,784,541.00

 

ii.

Tranche A-2

$140,000,000.00

 

iii.

Tranche A-3

$100,000,000.00

 

iv.

Tranche A-4

$288,000,000.00

 

v.

Total:

$627,784,541.00

     
 

b)

Collection Account Balances Outstanding:

     
 

i.

Capital Subaccount:

$3,364,720.45

 

ii.

Excess Subaccount:

$164,749.81

 

iii.

Defeasance Subaccount Balance:

$0.00

 

iv.

Total:

$3,529,470.26


6.


Shortfalls in Interest and Principal Payments as of Current Payment Date (if applicable):

     
 

a)

Interest Shortfall

     
 

i.

Tranche A-1

$0.00

 

ii.

Tranche A-2

$0.00

 

iii.

Tranche A-3

$0.00

 

iv.

Tranche A-4

$0.00

 

v.

Total:

$0.00

     
 

b)

Principal Shortfall

     
 

i.

Tranche A-1

$0.00

 

ii.

Tranche A-2

$0.00

 

iii.

Tranche A-3

$0.00

 

iv.

Tranche A-4

$0.00

 

v.

Total:

$0.00


7.


Shortfalls in Capital Subaccount as of Current Payment Date (if applicable):

   
 

Not Applicable.

   


8.


Storm-Recovery Charges in Effect (By Class) For This Period:

   
 

Refer to attachment 1 for storm-recovery charges in effect (by class) for this period.

   

 

 

 

 

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Semiannual Servicer Certificate this 30th day of January 2008.

 

 

FLORIDA POWER & LIGHT COMPANY,

 

as Servicer

     
 

By:

K. MICHAEL DAVIS

 

Name:

K. Michael Davis

 

Title:

Vice President, Accounting and Chief Accounting Officer

 

 

 


Florida Power & Light Company

 

First Revised Sheet No. 8.040
Cancels Original Sheet No. 8.040

       

STORM CHARGE

       

The following charges are applied to the Monthly Rate of each rate schedule as indicated and are calculated in accordance with the formula approved by the Public Service Commission.

Cents/kwh

Cents/kwh

           



Rate Schedule

 

Storm Bond
Repayment
Charge

 


Storm Bond
Tax Charge

 


Total Storm Charge

             

RS-1, RST-1

 

0.074

 

0.024

 

0.098

             

GS-1, GST-1, WIES-1

 

0.065

 

0.021

 

0.086

             

GSD-1, GSDT-1, HLFT,
SDTR (21-499 KW)

 


0.045

 


0.015

 


0.060

             

GSLD-1, GSLDT-1, HLFT,
SDTR (500-1,999 KW)

 


0.040

 


0.013

 


0.053

             

CS-1, CST-1

 

0.045

 

0.015

 

0.060

             

GSLD-2, GSLDT-2,
HLFT, SDTR (2000+ KW)

 


0.033

 


0.011

 


0.044

             

CS-2, CST-2

 

0.050

 

0.017

 

0.067

             

GSLD-3, GSLDT-3,
CS-3, CST-3

 


0.006

 


0.002

 


0.008

             

OS-2

 

0.205

 

0.066

 

0.271

             

MET

 

0.051

 

0.017

 

0.068

             

CILC-1(G)

 

0.043

 

0.014

 

0.057

             

CILC-1(D)

 

0.031

 

0.010

 

0.041

             

CILC-1(T)

 

0.007

 

0.002

 

0.009

             

SL-1, PL-1

 

0.531

 

0.172

 

0.703

             

OL-1

 

0.575

 

0.186

 

0.761

             

SL-2, GSCU-1

 

0.025

 

0.008

 

0.033

             

SST-1(T), ISST-1(T)

 

0.006

 

0.002

 

0.008

             

SST-1(D1), SST-1(D2)
SST-1(D3), ISST-1(D)

 

0.132

 

0.042

 

0.174

             

Issued by:

S. E. Romig, Director, Rates and Tariffs

Effective by:

November 1, 2007

Attachment 1