The Florida Public Service Commission (PSC) has begun what could be a two-week hearing on Florida Power & Light’s (FPL) request to increase base electric rates, which could result in customers paying billions of additional dollars from 2026 through 2029.
FPL President and CEO Armando Pimentel, the utility’s opening witness, defended the plan, citing a need for prudent investments following the addition of 275,000 new customers since 2021. However, the Office of Public Counsel (OPC), representing consumers, argued that FPL’s requests would cause harm and lead to “unfair, unjust, unreasonable and thus unaffordable rates.”
The PSC backed the rejection of a “counter proposal” filed by the OPC and allied consumer groups, ruling that FPL was an “indispensable party to any settlement.”
Key proposals under consideration:
- FPL’s Proposed Settlement: Base-rate increases of $945 million in 2026 and $766 million in 2027, potentially leading to a cumulative increase of $6.903 billion over four years.
- Customer Impact (1,000 kWh/month): Under the FPL settlement, a typical residential customer in FPL’s traditional territory would see their monthly bill rise from the current $134.14 to $137.93 in January 2026, and to $148.15 by December 2029.
The hearing will first address FPL’s initial February proposal, which sought larger increases, before moving to the proposed settlement FPL reached with numerous businesses and groups.
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