Florida Power and Light Set to potentially raise prices in 2026

Reporter: Zoe Warner Writer: Tim Belizaire
Published: Updated:

Florida Power and Light has announced their proposal for a need to increase rates from 2026 – 2029.

FPL’s customers have been paying an additional $12 monthly charge to cover costs from Hurricanes Debbie, Helene, and Milton. That monthly charge will come to an end by December 2025.

FPL notified the Florida Public Service Commission (PSC) that it does plan to file a formal request for a 2.5% increase

The Florida Power & Light Company notified the Florida Public Service Commission (PSC) that it plans to file a formal request to set new rates once its current base rate agreement concludes at the end of 2025.

The plan, covering 2026 through 2029, would increase a typical residential customer bill by an average annual rate of approximately 2.5% from January 2025 through 2029. Customers will be able to calculate potential adjustments to their bill after FPL files its formal plan.

FPL estimates that its proposal and projections for fuel and other costs would increase a typical residential customer bill by an average annual rate of approximately 2.5% from January 2025 through 2029.

Even with the proposed rate adjustment, FPL bills would remain well below the national average and below many other Florida electric utilities. Customers will be able to calculate potential adjustments to their bill after FPL files its formal plan.

What’s next: The customary process for setting new base rates takes about a year. FPL will submit a detailed four-year rate plan to the PSC as early as February, beginning an extensive public review process that includes numerous opportunities for customer input before a decision by state regulators.

FPL President and CEO Armando Pimentel: “FPL has a proven track record of delivering value for our customers – including diverse energy sources, high reliability and low bills. While we know there is never a good time to request a rate increase, we need to continue to make smart investments in the grid and in new generation resources so we can continue to deliver reliable electricity, enhance resiliency and diversify our generation mix to power our fast-growing state. That is our never-ending commitment to our customers and that’s what this balanced plan does.”

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