FPL reaches agreement in principle with key stakeholders that would keep customer bills well below national average

Core Viewpoint - Florida Power & Light Company (FPL) has reached an agreement in principle on a four-year rate settlement that aims to keep customer bills below the national average through the end of the decade [1][3]. Group 1: Agreement Details - The agreement involves multiple stakeholders, including the Florida Retail Federation and Walmart, and is designed to benefit both customers and the state of Florida [3]. - FPL and intervenors have filed a joint motion to suspend technical hearings on the original rates petition to finalize the settlement agreement by August 20 [2]. Group 2: Background and Process - FPL's current four-year rate agreement is set to conclude at the end of this year, prompting the submission of a new rates petition for 2026 through 2029 [4]. - The public review process included thousands of pages of testimony, over 3,000 interrogatories, and 10 public hearings where hundreds of customers provided input on FPL's proposal [4]. Group 3: Next Steps - FPL and supporting parties will appear before the Florida Public Service Commission (PSC) to request the suspension of the technical hearing, allowing for the finalization of the agreement [5]. - If accepted, a new hearing date will be set, and any new PSC-approved rates would take effect on January 1, 2026 [5]. Group 4: Company Overview - Florida Power & Light Company is the largest electric utility in America, serving over 6 million customer accounts and approximately 12 million people in Florida [6]. - The company operates a diverse energy mix, including nuclear, natural gas, solar, and battery storage, and has been recognized for its reliability [6].