Florida Power and Light rates to decrease starting March 1

Beginning March 1, rates for Florida Power & Light Company customers will decrease by $3.35 per month compared to current rates for a typical residential customer using 1,000 kilowatt-hours (kWh), the company said recently.

The reduction, according to the company is mainly due to the end of a temporary surcharge for Hurricane Matthew restoration and savings created by closing a major coal plant.

Typical commercial and industrial customer monthly bills will decrease by approximately two to four percent beginning on March 1.

“Many people assume that FPL rates have risen in recent years, but in reality, our customers are paying significantly less for power than they were a dozen years ago – and that’s a great thing for the families and businesses we serve,” Eric Silagy, president and CEO of FPL, said. “Our successful strategy of investing in highly efficient energy infrastructure continues to transform the power we deliver to our customers, making it cleaner and more reliable than ever before at a cost that is significantly less than what the average American pays for electricity.”

The company noted that FPL’s rates starting in March will be 30 percent lower than the national average.

FPL is not increasing rates to pay the approximately $1.3 billion cost of restoration following Hurricane Irma. Instead, the company is using savings from the recent change in federal taxes.