Florida Power & Light (FPL) customers will see their electric bills increase starting in January after the state's Public Service Commission approved a $7 billion rate hike.
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Florida Power & Light (FPL) customers will see their electric bills increase starting in January after the state's Public Service Commission approved a $7 billion rate hike.
FPL initially requested a nearly $10 billion rate increase over four years, but after significant public outcry, the utility reached a settlement that reduced the request by almost 40%.
For 2026, FPL's typical 1,000-kWh residential customer bill in most of Florida will increase by $2.50 a month, or about 2%, from the current $134.14 to $136.64. The new rates are set to take effect on Jan. 1.
"We appreciate the Florida Public Service Commission's thorough review of our rate plan,” FPL President and CEO Armando Pimentel. “Today's vote enables FPL to continue to deliver some of America's most reliable electric service and meet the needs of our fast-growing state—and we project will keep customer bills well below the national average through the end of the decade. As we begin our second century of serving Florida, approval of this plan is a win for our customers and a win for the entire state."
Opponents of the new proposal point out that the new rate hike comes at a time when people in Florida are already facing ever increasing prices and bills.
“What we are hearing from people all around the state is ‘we can’t afford this.’” said Brian Lee, Campaigns Director at ReThink Energy Florida. “Working families have already been seeing their grocery and insurance bills rise and now their energy burden is increasing as well. Florida’s legislature and governor need to take action to make Florida affordable again.”
The rate-setting process took about 11 months. FPL submitted more than 70,000 pages of testimony, exhibits and discovery materials and answered more than 2,000 inquiries from Public Service Commission staff and intervening parties. FPL took part in 10 public hearings around the state in May and June, with more than 400 customers weighing in. FPL witnesses participated in 37 depositions and nine days of technical hearings in October.
FPL exists as a regulated monopoly, meaning they are guaranteed profits and a customer base but have to request permission to increase the cost of electricity from regulators. Florida's Public Service Commission is charged with regulating utilities in the state.
FPL customers already saw a temporary increase in their bill this year. Recently the Florida Public Service Commission approved FPL’s $1.2 billion interim hurricane recovery plan, which translates to an approximate $12 monthly increase for residential customers that started in January 2025.
