Florida Power & Light suggests increases in installments to further meet the growing requirements

Published on March 3, 2025 by Kim Riley

As soon as the current base rate contract ends at the end of the year, Florida Power & Light Co. (FPL) would like to increase its interest rates over the next four years, as can be seen from an application on February 28 at Florida Public Service Commission (PSC).

“At FPL we concentrate on our customers every day,” said the President and CEO of FPL, Armando Pimentel. “The balanced plan we have presented to the PSC would enable FPL to continue to invest intelligent investments in the network and in the resources of the new generation in order to benefit our customers and to supply our rapidly growing state. No other benefit in the USA offers a better combination of reliability, failure safety and low invoices than Fpl. “

The proposal, which covers 2026 to 2029, would enable FPL to continue to deliver reliable electricity, to diversify its generation resources in order to reduce the fuel costs and to keep the invoices as low as possible, the company said.

Overall, FPL projects that customer accounts, even with the proposed tariff adjustment, would remain below the national average and among many other supply companies in Florida. When adapting to inflation, the typical customer calculation of 1,000 kilowatt hours (kWh) would be around 20 percent lower than in 2006 in January 2026, said the company.

In particular, the average resident in the state's peninsula region currently pays 134.14 kWh per month, while living customers in the northwest of Florida pay 143.60 kWh per month. According to FPL's proposal, these customers pay 142.37 kWh or 147.10 kWh in 2026. All living customers in both areas would pay 148.29 kWh, 149.93 kWh and 151.99 kWh in 2027, 2028 and 2029 as part of the proposed application.

Typical invoices for small and medium-sized business customers would increase from 2025 to 2029 as part of the proposal with an average annual price of 1 to 5 percent, said FPL, and found that commercial and industrial customers should turn their FPL account managers for further information.

Under the customer advantages of his proposed plan, FPL would provide information to supporting ongoing investments in critical infrastructures and technologies that have contributed to shaping the reliability of the sales services by 59 percent than the national average and the best among the most important care companies in Florida. For example, the technological investments of FPL have added to customers with intelligent devices that contributed to the restoration of the restoration and avoiding 2.7 million customer failures in 2024.

The plan would also contribute to the fact that FPL continues to meet customer growth and the increasing requirements by using FPL into the solar and battery storage technology to supplement its existing power plant fleet, including 1.1 billion US dollars by investing in solar energy centers.

FPL, which has added around 275,000 customers since 2021 and will add around 335,000 more by the end of 2029, also explains that it will require a significant new generation capacity and sales infrastructure in order to satisfy the demand in one of the fastest growing countries in America.

While FPL diverses his supply chain and the control costs for customers, the supply company announced that it is still not immune to inflation.

For example, since FPL submitted his last request to adapt the basic rates in 2021, labor costs have increased by almost 16 percent. The costs for wires and cables rose by 30 percent; And those for supply rods and transformers rose an average of 49 percent and 101 percent.

The submission begins with the PSC an extensive public review process that defines hearings and offers other options for customers before making a decision.