Florida Power & Light Company (FPL) has received approval from the Florida Public Service Commission (PSC) for a new four-year rate agreement, which will determine customer rates from 2026 through 2029. The agreement was developed in collaboration with a coalition of customer groups and aims to allow FPL to continue investing in its electric grid while keeping customer bills below the national average.
Under the approved plan, the typical residential customer using 1,000 kilowatt-hours per month in most parts of Florida will see their bill increase by $2.50 per month in 2026, rising from $134.14 to $136.64—a roughly 2% increase. In Northwest Florida, typical residential bills are expected to decrease slightly, from $143.60 to $141.36.
FPL President and CEO Armando Pimentel commented on the PSC’s decision: “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 states that its bills have remained under the national average for over ten years and are projected to stay that way through at least 2029.
The agreement comes as FPL expects significant growth in its customer base—an additional 335,000 customers by decade’s end—which will require expanded power generation capacity and battery storage facilities. The utility reports that its service reliability is currently 59% better than the national average and that ongoing investments in smart grid technology are necessary to maintain this performance.
The process leading up to approval involved an extensive review period lasting about eleven months. During this time, FPL submitted more than 70,000 pages of documentation and responded to over 2,000 inquiries from PSC staff and other parties involved in the case. Ten public hearings were held across Florida with input from more than 400 customers.
New rates established by this agreement are set to take effect on January 1.
FPL serves more than six million accounts across Florida—about twelve million people—and operates one of the country’s most fuel- and cost-efficient power generation fleets using nuclear, natural gas, solar energy, and battery storage technologies.
“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.” – Armando Pimentel
For further information about NextEra Energy companies or their services visit www.NextEraEnergy.com or www.FPL.com.
