Florida regulators have approved a four-year rate agreement for Florida Power & Light Company (FPL), allowing the utility to continue investing in its power grid while maintaining customer bills below the national average. The Florida Public Service Commission (PSC) gave its approval following an 11-month review process that included public hearings and extensive documentation.
The new rates, which will be in effect from 2026 through 2029, were developed with input from various customer groups. For most of Florida, a typical residential customer using 1,000 kilowatt-hours per month will see their bill increase by $2.50 to $136.64 in 2026. In Northwest Florida, the typical bill is expected to decrease slightly from $143.60 to $141.36.
Armando Pimentel, President and CEO of FPL, stated: “We appreciate the Florida Public Service Commission’s thorough review of our rate plan. 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.”
According to FPL, when adjusted for inflation, a typical residential bill in 2026 will be about 20% lower than it was two decades ago. The company expects to add approximately 335,000 new customers by 2029 and plans investments in new power generation and battery storage facilities to support this growth.
FPL reports that its reliability performance is currently 59% better than the national average. The approved agreement allows continued investment in smart grid technology aimed at improving service reliability and reducing outages.
The rate-setting process involved submitting over 70,000 pages of materials and responding to more than 2,000 inquiries from PSC staff and other parties. FPL also participated in public hearings across the state where more than 400 customers provided feedback.
New rates are scheduled to take effect on January 1.
Florida Power & Light Company serves over six million customer accounts across Florida and operates one of the largest power generation fleets in the United States using nuclear, natural gas, solar energy, and battery storage technologies. It is a subsidiary of NextEra Energy Inc., which is based in Juno Beach.
