Florida Power & Light Company (FPL) has informed the Florida Public Service Commission (PSC) of its intent to file a formal request for new rates. This new four-year rate plan is set to begin in January 2026, following the conclusion of its current agreement at the end of 2025.
The proposed plan aims to diversify FPL's electricity generation mix, thereby protecting customers from fuel price volatility, and to continue delivering reliable electricity. FPL estimates that its proposal, including projections for fuel and other costs, would result in an average annual increase of approximately 2.5% for a typical residential customer bill from January 2025 through 2029.
FPL anticipates adding about 330,000 new customer accounts through the end of 2029, which will necessitate significant new generating capacity and distribution infrastructure. The company emphasizes that even with the proposed rate adjustment, FPL bills are expected to remain well below the national average and those of many other Florida electric utilities.
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