Florida regulators approve FPL rate agreement that keeps customer bills low, meets needs of growing state

Core Insights - The Florida Public Service Commission approved a four-year rate agreement for Florida Power & Light Company (FPL) to support necessary investments in the grid while keeping customer bills below the national average [1][3]. Rate Changes - For 2026, the typical residential customer bill for 1,000 kWh will increase by $2.50 per month, approximately 2%, from $134.14 to $136.64 [2]. - In Northwest Florida, the typical residential customer bill will decrease slightly from $143.60 to $141.36 [2]. Customer Impact - The approved agreement is expected to keep customer bills about 20% lower than they were 20 years ago when adjusted for inflation [8]. - FPL anticipates adding 335,000 new customers by the end of the decade, necessitating new power generation and battery storage investments [8]. Reliability and Investments - FPL's reliability is reported to be 59% better than the national average, and the agreement allows for continued investments in smart grid technology to enhance service reliability [8]. - The rate-setting process involved extensive review, including over 70,000 pages of documentation and participation in public hearings [6]. Company Overview - Florida Power & Light Company serves over 6 million customer accounts, providing reliable power to approximately 12 million people across Florida [7]. - FPL operates one of the most fuel- and cost-efficient power generation fleets in the U.S., leveraging a diverse energy mix including nuclear, natural gas, solar, and battery storage [7].