The Florida Public Service Commission approved a four‑year rate agreement for Florida Power & Light (FPL) that will take effect on January 1, 2026. The agreement authorizes FPL to recover the costs of a planned $40 billion investment in solar, battery storage, and a natural‑gas peaker plant, ensuring the utility can modernize its grid while keeping residential bills low.
The approval follows an 11‑month review that included more than 70,000 pages of testimony and 2,000 inquiries from the commission, reflecting extensive stakeholder engagement and a thorough regulatory process.
Under the new rates, the typical 1,000‑kWh residential bill will rise by only $2.50 per month—about a 2% increase—in 2026, with rates remaining flat in Northwest Florida. The modest increase keeps FPL’s residential bills well below the national average while funding critical infrastructure upgrades.
For NextEra Energy, the PSC decision secures the financial foundation for FPL’s capital plan and reinforces the regulated utility’s role as a stable revenue base that supports the company’s broader renewable and storage expansion under its dual‑engine model.
The approval signals strong confidence in FPL’s investment strategy and its ability to maintain reliable service amid Florida’s growing population and evolving energy demands, including the rise of AI, data centers, and residential electrification.
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