FPL's new rate plan promises lower bills for Florida residents
Florida Power & Light Company and 10 key stakeholder groups have filed a four-year rate settlement agreement with state regulators. This agreement reduces FPL’s original revenue request by about 30% while keeping residential bills below the national average through the decade’s end.
FPL President and CEO Armando Pimentel said, “This settlement agreement is a win for all FPL customers and Florida.” He added that the typical 1,000-kWh residential customer bill will increase by about $3.79 a month next year yet remain 20% lower than 20 years ago when adjusted for inflation.
Credit: Florida Power and Light
The agreement, pending approval by the Florida Public Service Commission, significantly reduces FPL’s base rate revenue requests. For 2026, the request is cut by 39% to $945 million; for 2027, it is reduced by 17% to $766 million.
The settlement maintains regulatory oversight, with all fuel and variable costs subject to annual PSC review. FPL also commits to not disconnecting customers for nonpayment during extreme temperatures.
FPL expects to add 335,000 new customers by the end of the decade, supporting investments in solar energy and battery storage. The agreement aims to protect customers from fuel price volatility while keeping bill increases modest and predictable.