Florida Power & Light Company proposed rate reduction
Florida Power & Light Company (FPL) proposed another rate decrease on Friday.
If approved by the Florida Public Service Commission the $256 million rate reduction would take effect in July. FPL is calling for reducing the fuel portion of customers’ bills to reflect continued downward projects natural gas costs after higher levels in 2022.
“This is more positive news for our customers,” Armando Pimentel, president and CEO of FPL said. “We know that every dollar counts for our customers, and we are pleased to propose another rate reduction. At the same time, we continue to encourage our customers to use FPL’s tips and free tools to help save energy and money.”
The company applies with PSC for a fuel charge on customer bills based on its projection of how much it will spend on generating plant fuel. Since estimating its fuel expenditures last year, the price of natural gas has fallen, prompting FPL to make adjustments. If the rate revision is approved by PSC, it would be the third reduction in the fuel portion of FPL bills in 2023. Two other downward adjustments were made earlier which took effect in April and May totaling nearly $1.4 billion.
For FPL customers, the typical bill for a 1,000kWh residential customer bill fell from $144.38 in April to $139.95 in May because of a previously approved rate reduction. For FPL Northwest customers, that same bill fell from $163.30 to $158.86. If the proposed rate increase is approved, FPL customers’ average bill would be $136.00, while FPL Northwest customers’ average bill would be $154.91.
Business customers would see their bill drop by between 2 and 5 percent, depending on their rate class, the company said.
