Florida Power & Light Company has officially submitted a comprehensive four-year request to the Florida Public Service Commission (PSC), a proposal focused on setting new rates once its current base rate agreement concludes at the end of this year.
According to certain reports, the stated proposal, which runs from 2026 through 2029, would make it possible for FPL to continue to deliver some of the nation’s most reliable electricity, provide excellent customer service, diversify its generation resources to reduce fuel costs, and keep bills as low as possible.
Despite the proposed increase in prices, though, FPL projects that residential customer bills would remain well below the national average and below many other Florida utilities. For instance, when adjusted for inflation, the typical 1,000-kWh residential customer bill in January 2026, under FPL’s proposal, would be about 20% lower than it was 20 years earlier, in 2006.
Taking a deeper view of how FPL’s latest proposal would benefit customers, we begin from the promise to deliver reliable service. You see, the plan in question steadfastly supports continued investments in the critical infrastructure and technologies that have helped make FPL’s distribution service reliability 59% better than the national average and the best among major utilities in Florida.
More on that would reveal how the company’s technology investments have, thus far, benefitted customers, with smart-grid devices helping speed restoration and avoid 2.7 million customer outages during 2024 alone. This effectively translates more than 800,000 averted outages during Hurricanes Debby, Helene and Milton last year.
Next up, we must expand upon FPL’s intention to diversify the ways it generates electricity. Here, the company plans to make meaningful investments in low-cost solar and battery storage technology to complement its existing power plant fleet, which already includes one of the nation’s largest natural gas fleets and safe, reliable nuclear power.
Not just that, by diversifying the power generation fleet, FPL will also protect customers from future fuel price volatility.
Another detail worth a mention here is rooted in FPL’s focus on keeping bills as low as possible. This the company will do by leveraging the latest technology. Up until now, FPL’s power plant fleet has saved customers more than $16 billion in fuel costs, including $1.1 billion through investments across low-cost solar energy centers. Not just that, the company’s non-fuel operations and maintenance costs per customer are also the lowest among peer utilities, saving customers about $2.9 billion per year compared to an average-performing utility, or more than $24 per month on a typical 1,000-kWh residential customer bill.
Among other things, we must mention how the development in question arrives on the back of FPL acquiring about 275,000 customers since 2021. The company now expects to add around 335,000 more through the end of 2029, a feat which will require significant new generating capacity and distribution infrastructure to meet demand in what happens to be one of America’s fastest-growing states.
Founded in 1925, FPL’s currently serves more customers and sells more power than any other utility, providing clean, affordable, reliable electricity to more than 6 million accounts, or approximately 12 million people.
The company also operates one of the most fuel efficient and cleanest power generation fleets in the U.S, and its excellence with that can be understood once you consider it was awarded the ReliabilityOne® National Reliability Award for the seventh time in last ten years. FPL has also been recognized by Escalent in 2022 as one of the most trusted U.S. electric utilities for the ninth consecutive year.
“At FPL, we’re focused on our customers every single day. The balanced plan we submitted to the PSC would enable FPL to continue to make smart investments in the grid and in new generation resources to benefit our customers and to power our fast-growing state. No other utility in the U.S. provides a better combination of reliability, resiliency and low bills than FPL,” said Armando Pimentel, President and CEO of FPL.
