US EditionFlorida Approves FPL’s Largest Rate Hike in History. Here’s How Much You’ll Pay
The settlement reduces FPL’s initial $10 billion request by nearly 40%, with monthly bills rising about $2.50 next year and reaching $148.15 by 2029, officials said.
- The Florida Public Service Commission approved a four-year rate settlement with Florida Power & Light, taking effect January 1, 2026, that sets rates for 2026–2029.
- After months of talks, Florida Power & Light and major stakeholders including Walmart and the Florida Retail Federation agreed in August to a settlement that cut FPL's initial near-$10 billion February rate plan by almost 40%.
- Under the settlement, Florida Power & Light will collect $945 million in 2026 and $705 million in 2027, serving about 6 million customer accounts with a $10 billion total four-year estimate.
- Commissioners discussed reservations before approving, with Northwest Florida bills dropping from $143.60 to $141.36 in 2026, and opposition planning to challenge at the Florida Supreme Court.
- Looking ahead, the settlement's multi-year revenue plan positions FPL to collect significant sums through 2029, affecting more than 12 million customers starting in 2026, and opponents said it will cost customers billions in the coming years.
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25 Articles
FPL Customers Face $6.9 Billion Rate Increase in 4 Years as Regulators Approve Controversial 'Settlement'
The Florida Public Service Commission approved a four-year settlement with Florida Power & Light Thursday for about $6.9 billion, which opponents claim is the largest rate hike in U.S. history. FPL says that in 2026, its “typical” 1,000-kWh residential customer bill in most of Florida will increase by $2.50 a month, or about 2%, from the existing $134.14 to $136.64. There would be additional increases in 2027, 2028 and 2029. The post FPL Custome…
State approves FPL rate hikes to strengthen power grid beginning in 2026 - WSVN 7News | Miami News, Weather, Sports
(WSVN) - Florida has approved rate hikes for Florida Power & Light, they say, will help strengthen the state’s power grid.The rate hike, which will
Florida residents opposed a $7B electric rate hike. Regulators OK'd it anyway
Twelve million Floridians will see higher electric bills in the coming years after state regulators approved a $7 billion rate hike. Following months of legal maneuvering, the Florida Public Service Commission gave the green light on Thursday for Florida Power & Light (FPL) to increase the rates of 6 million customers through 2029. The five-member utility regulatory board appointed by Gov. Ron DeSantis, R, voted for the settlement reached after…
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