Describing the case as “specious, legally and factually baseless,” Florida Power & Light has asked state regulators to reject a petition that seeks to force the utility to refund as much as $736 million to customers and reduce base electric rates.

The state Office of Public Counsel, which represents utility customers, and two business groups filed the petition Dec. 5, focusing, in part, on FPL’s tax savings under the federal tax overhaul approved last year. But FPL on Friday filed a 22-page response that disputed the arguments and urged the Florida Public Service Commission to deny the petition.