Florida PSC approves adjusted rate request by Florida Power & Light

The Florida Public Service Commission (PSC) approved a request by Florida Power & Light Company to adjust its rates starting in April.

The approved rate reflects unrecovered fuel and storm costs from 2022, as well as a recent decline in projected 2023 fuel costs.

So, to account for the storm costs, the typical 1,000-kWh residential customer will pay $144.38 per month, while those in Northwest Florida will pay $163.30 per month to account for hurricane damage costs.

But in May, the average bill will drop to reflect $379 million in additional projected fuel savings in 2023. The average monthly cost for the typical residential customer will be $139.95 starting in May, while those in Northwest Florida will see an average monthly bill of $158.86.

“I know our customers have big expectations for their electric provider,” FPL President and CEO Armando Pimentel said. “They count on Florida Power & Light to keep the lights on and their home cool. They count on us to maintain a durable energy grid that stands up to severe weather, and when a storm does cause outages, they also count on us to restore power safely and as quickly as possible. Most importantly, they count on us to serve them while keeping their electric bill as low as possible.”

Even with the approved increase in April, FPL’s typical residential bill is below the national average and the lowest among Florida’s large utilities.